The Governor released his May revise budget last Thursday. That same afternoon there was a Stakeholders Debrief call with CNRA, CDFA, and CalEPA, which unfortunately came with some less than ideal news as relating to the climate resilience bond.
Here are the key points:
Administration is no longer sponsoring a climate resilience bond due to consequences of future debt service.
– $33 million reduction in DFW if federal funds do not come through
– $18.9 million reallocation from HCF to Biodiversity program maintained; confirmed elimination of the 10-year sunset approved last year. New trailer language will come out to make this an ongoing transfer to the biodiversity fund.
View the complete notes from The Sierra Business Council here.