PHOENIX - California Democrats are a step closer to putting a $3.1 billion bond measure on the ballot in 2018 after a bill cleared the state Assembly without Republican support.
Assembly Bill 18 is sponsored by Assemblyman Eduardo Garcia, D-Coachella. It would put the question to voters of whether to issue the state general obligation debt to finance parks, water, climate adaptation, coastal protection, and outdoor access programs. The bill required a two-thirds supermajority to pass the Assembly, which it got with 54 aye votes against 19 noes and seven members not voting.
"Supporters assert that this bill will provide an important opportunity for California to invest in critically needed park and open space programs while providing climate and habitat resiliency in our natural systems," an analysis prepared for the legislature explained. "Opponents raise concerns about the number of bonds that should be authorized for future state ballots given the state's debt service ratio, and the investment period of local parks."
The bill would take effect immediately and voters would have their say June 5, 2018. The bill requires a Senate supermajority vote as well, which can be achieved if all 27 Democrats stay on board. The bonds would cost about $200 million annually in principal and interest costs, the legislative analysis estimated.
