Update November 8, 2006
Proposition 84 was passed by 53.6% of voters.
Proposition 84 in Plain English
This bond measure would provide $5.4 billion to address a myriad of natural resource issues: better water quality, protecting rivers and lakes, flood control projects, energy conservation, protecting the coast, acquiring and developing state parks, conserving wild habitats, and water planning. It is estimated to cost the state $10.5 billion over 30 years.
Official Title and Summary
Water Quality, Safety and Supply. Flood Control. Natural Resource Protection. Park Improvements. Bonds. Inititative Statute.
- Funds projects relating to safe drinking water, water quality and supply, flood control, waterway and natural resource protection, water pollution and contamination control, state and local park improvements, public access to natural resources, and water conservation efforts.
- Provides funding for emergency drinking water, and exempts such expenditures from public contract and procurement requirements to ensure immediate action for public safety.
- Authorizes $5,388,000,000 in general obligation bonds to fund projects and expenditures, to be repaid from the state’s General Fund.
Summary of Legislative Analyst’s Estimate of Net State and Local Government Fiscal Impact:
- State cost of about $10.5 billion over 30 years to pay off both the principal ($5.4 billion) and interest ($5.1 billion) costs on the bonds. Payments of about $350 million per year.
- Reduction in local property tax revenues of several million dollars annually.
- Unknown costs, potentially tens of millions of dollars per year, to state and local governments to operate or maintain properties or projects acquired or developed with these bond funds.
Analysis
- Official Legislative Analysis, California Legislative Analyst’s Office (PDF)
- In Depth Nonpartisan Analysis, League of Women Voters Ca.
Articles
- Another Water Bond in the Pipeline. Los Angeles Times
- On Nov. 7, Californians can choose to build for the future. San Jose Mercury News
- Editorial: Bonds for the future. Yes on Props. 1B, 1C, 1D, 1E and 84. Sacramento Bee
- Props. 1B, 1C, 1D, 1E and 84: Public works bonds: No. The infrastructure bonds will dangerously run up state debt for too little in return. Orange County Register
- The $46-Billion Questions Await State’s Voters, Ballot measures would release a torrent of spending on California’s infrastructure but test the public’s stomach for more debt and taxes. Los Angeles Times