CA AB1567

Authorizes issuance of $15,995,000,000 in state general obligation bonds to fund climate resilience, water security, wildfire prevention, flood protection, and extreme heat mitigation projects, subject to voter approval at the March 5, 2024 statewide primary election.

Allocates bond funds across nine programs: wildfire prevention ($2,275,000,000); coastal protection ($1,655,000,000); water supplies and drinking water ($5,255,000,000); wildlife and biodiversity ($1,500,000,000); farms and ranches ($520,000,000); extreme heat and parks ($1,590,000,000); regional climate resilience ($1,200,000,000); and clean energy ($2,000,000,000).

Requires at least 35 percent of funds to benefit vulnerable populations, under-resourced communities, or disadvantaged communities, with a minimum 10 percent allocation for severely disadvantaged communities across each program chapter.

Establishes funding priorities for projects that leverage private, federal, and local funding; reduce climate impacts while promoting long-term resilience; avoid transferring risks to other communities; and prevent displacement of low-income residents.

Creates oversight mechanisms including independent audits, annual public reporting of expenditures in downloadable spreadsheet format, project monitoring requirements, and technical assistance capacity building funded up to 10 percent per program chapter.