Current vote counts in the state of California are in favor of approving Proposition 4 which would authorize $10 billion in bonds for environmental and climate projects.
The largest chunk of funding, $3.8 billion, would be utilized for safe drinking water and water resilience.
The morning after the election, November 6, 2024, showed 57.9% in favor of the proposition, with 42.1% of voters in opposition, according to New York Times reporting.
The bond prioritizes low-income and disadvantaged communities and those most vulnerable to climate change and would require annual audits.
Roughly $3.8 billion would be spent on water projects with half of the funding being used to improve water quality and the remainder to protect the state from floods and droughts and restoring rivers and lakes.
The key goal of the funding is to increase the amount and quality of water available for people to use and reduce the risk of flooding.
The rest of the $10 billion would be used for wildfire and extreme heat projects, natural lands, parks and wildlife projects, coastal lands, bays and ocean protection, clean energy projects and agricultural projects.
The cost estimate of the $10 billion bond is an average repayment cost of $400 million per year over 40 years stemming from general tax revenue, according to the California Attorney General. The resulting total payment would be $16 billion.
Breakdown of California Proposition 4 funding
