Safe Drinking Water, Clean Water, Watershed Protection, and Flood Protection Bond Act.

SAFE DRINKING WATER, CLEAN WATER, WATERSHED PROTECTION, AND FLOOD PROTECTION BOND ACT. • This act provides for a bond issue of one billion nine hundred seventy million dollars ($1,970,000,000) to provide funds for a safe drinking water, water quality, flood protection, and water reliability program. • Appropriates money from the General Fund to pay off bonds. Summary of Legislative Analyst’s Estimate of Net State and Local Government Fiscal Impact: • State cost of up to $3.4 billion over 25 years to pay off both the principal ($1.97 billion) and interest ($1.4 billion) costs on the bonds. Payments of about $135 million per year. • Potential costs of an unknown amount to local governments to operate or maintain projects developed with these bond funds