Bay Area Council Helps Climate Resilience Bond Clear First Hurdle
California moved one step closer Thursday (April 8) to voting on a $6.7 billion climate resilience bond on the fall 2022 ballot, as AB 1500 (Garcia/Mullin) unanimously passed the Assembly Committee on Water, Parks, and Wildlife. Bay Area Council staff was on hand to give expert testimony to the committee, sharing economic and jobs impacts of recent climate-related disasters, as well as recent analysis from the Bay Area Council Economic Institute on the jobs and economic impacts of climate resilience investments.
AB 1500 would strengthen the resilience of California’s homes, businesses, and ecosystems to wildfires, droughts, and floods, including providing $300 million in matching funds to the SF Bay Restoration Authority to help pay for a number of important multi-benefit flood protection projects along the Bay shoreline. The Restoration Authority is financed by Measure AA, a Bay Area Council-sponsored $12 parcel tax measure that passed with over 70 percent of Bay Area voters and which raises $500 million. AB 1500 now goes to the Assembly Natural Resources Committee. To engage with the Bay Area Council Water & Climate Resilience Committee, please contact Senior Vice President Adrian Covert.