SOURCE:
https://patch.com/new-york/patchogue/5-things-know-nys-clean-water-air-green-jobs-bond-act
Peggy Spellman Hoey,Patch Staff - October 12, 2022
It proposes the sale of bonds up to $4.2 billion for environmental protection, natural restoration, resiliency, and clean energy projects.
ALBANY, NY — On Nov. 8, the state's voters will cast their ballots, weighing in on Proposition 1A, the Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022.
Here's what you should know:
1. It authorizes the sale of state bonds up to about $4.2 billion for environmental protection, natural restoration, resiliency, and clean energy projects "to address and combat the impact of climate change and damage to the environment," according to the state Board of Elections website.
2. If approved, it would authorize the creation of state debt and the sale of state bonds for capital projects to make environmental improvements that preserve, enhance, and restore the state's natural resources, as well as reduce the impact of climate change.
3. It would allow the state to borrow the funding for capital projects, including at least $1.1 million in restoration and flood risk reduction, up to $650,000 of open space land conservation and recreation, up to $1.5 million in climate change mitigation, and at least $650,000 in water quality improvement and resilient infrastructure.
4. It would also allow the refund of the debt to take advantage of lower interest rates if the opportunity should arise, clearing the way for the state comptroller to issue more state bonds up to or exceeding the amount of the bonds that were initially issued to refund, to advance refund, or otherwise to repay part of the bonds before the scheduled dates of their maturity.
5. Money received by the sale of bonds sold under the act would be used for capital projects related to the design, planning, site acquisition, demolition, construction, reconstruction, and rehabilitation projects.
Citizens Campaign for the Environment is urging residents to approve the bond act, calling the vote a historic opportunity on its website.
If approved, it will protect clean drinking water, upgrade water infrastructure, preserve open space and family farms, fight climate change, and keep communities safe from extreme weather, the group says. It will also "provide crucial support for New York’s economy by supporting over 100,000 jobs," the website states.
Jessica Ottney Mahar, the New York director of policy and strategy at The Nature Conservancy, offered similar support, calling the vote a "once-in-a-generation opportunity for New Yorkers to protect clean drinking water, modernize infrastructure, preserve green spaces and drastically improve quality of life across the state,” in an interview with City & State.
“If passed by voters on Nov. 8, Prop 1 will improve public health by upgrading the state’s antiquated 100-year-old pipes and water infrastructure, fund projects to mitigate climate change and flooding, and create tens of thousands of local jobs," she told the outlet. "New Yorkers have a chance to protect their state from an increasingly dangerous climate future, by voting ‘yes’ on Prop 1.”