Legislature Unveils New Stimulus Plan
The Legislature has returned after another extended recess prompted by Coronavirus concerns, and has until August 31 to close out all remaining legislative business. Last week, a bi-cameral group of legislators unveiled details of a $100 billion stimulus plan and indicated they will work to pass the plan by the final deadline later this month. No legislative language has been released, but an outline indicates the stimulus will be derived by a variety of accounting tactics such as securitizing existing revenue streams, including future Cap and Trade revenues, a new tax voucher program, accelerating existing unused bond proceeds, and borrowing from the Federal government.  Among many of the stimulus priorities is investment in a green economy, including in water recycling and clean water infrastructure, as well as in investments to fight climate change and sea level rise.

Governor’s Water Resilience Portfolio Finalized
The Newsom Administration released the final version of the Water Resilience Portfolio last week after nearly a year of development and feedback. The portfolio outlines the Governor’s comprehensive vision for California’s water systems in the 21st century. There were several changes from the draft version released earlier this year, and notably the prior reference to additional resource program bond funding has been removed (presumably due to the changing economy post-COVID). The portfolio now relies on Federal assistance as the main source of new revenue for water infrastructure programs.