AB 2043 Summary

• Authorizes issuance of $8,035,000,000 in state general obligation bonds to fund water infrastructure and reliability programs, subject to voter approval at the November 4, 2014 statewide election.

• Allocates bond proceeds across multiple programs: $495,000,000 for drought relief projects; $840,000,000 for regional water supply reliability; $1,500,000,000 for Delta ecosystem sustainability; $3,000,000,000 for water storage projects; $800,000,000 for groundwater protection and contamination cleanup; and $1,050,000,000 for water recycling and conservation.

• Establishes the Safe, Clean, and Reliable Drinking Water Supply Finance Committee to oversee bond sales and implementation, with the State Treasurer as chairperson.

• Prioritizes funding for disadvantaged communities and economically distressed areas, with provisions allowing cost-share requirements to be waived or reduced for these populations.

• Repeals the Safe, Clean, and Reliable Drinking Water Supply Act of 2012 and takes effect immediately as an urgency statute.