DISASTER PREPAREDNESS AND FLOOD PREVENTION BOND ACT OF 2006.

DISASTER PREPAREDNESS AND FLOOD PREVENTION BOND ACT OF 2006. This act rebuilds and repairs California\u27s most vulnerable flood control structures to protect homes and prevent loss of life from flood-related disasters, including levee failures, flash floods, and mudslides. Protects California\u27s drinking water supply system by rebuilding delta levees that are vulnerable to earthquakes and storms. Authorizes a $4.09 billion dollar bond act. Appropriates money from the General Fund to pay off bonds. Summary of Legislative Analyst\u27s Estimate of Net State and Local Government Fiscal Impact: State cost of about $8 billion over 30 years to pay off both the principal ($4.1 billion) and interest ($3.9 billion) costs on the bonds. Payments of about $266 million per year. Reduction in local property tax revenues of potentially up to several million dollars annually. Additional unknown state and local government costs to operate or maintain properties or projects acquired or developed with these bond funds