Proposition: Environmental Bond Act of 2022

State Clean Water, Clean Air and Green Jobs Environmental Bond Act of 2022

BACKGROUND:

• Voters statewide will be asked to approve borrowing of up to $4.2 billion under the proposed Clean Water, Clean Air and Green Jobs Environmental Bond Act of 2022. The measure was approved by the New York State Legislature and Gov. Kathy Hochul to fund longer term environmental and public health projects and to combat climate change. Under the state constitution, such direct borrowing must be approved by voters in a referendum. If approved, the environmental bond act would authorize the largest borrowing for environmental projects in state history. In 1996, voters approved a $1.75 billion environment bond act.

ISSUES:

• The act states borrowing would pay for “certain capital projects for the purpose of making environmental improvements to preserve, enhance and restore New York’s natural resources and reduce the impact of climate change.” At least $1.1 billion would be used for restoring flood damage and reducing the risk of flooding; $1.5 billion would go to address effects of climate change; $650 million would be used to improve water quality — including on Long Island — and to build “resilient infrastructure” to withstand increasingly violent storms; and $650 million would go to buy and conserve open space for conservation and recreation.

Read more about the Environmental Bond Act here.

Correction: The state Environmental Bond Act would provide $650 million to improve water quality and $650 million to buy and conserve open space. A previous version of this story misstated the amounts.