New York Clean Air, Clean Water, and Green Jobs Environmental Bond Act
In November of 2022, New York voters approved the Clean Air, Clean Water, and Green Jobs Environmental Bond Act, which authorizes the creation of state debt and state bonds for “preserving, enhancing, and restoring” the natural resources of New York and reducing the impacts of climate change.
The Act allows the New York state government to borrow up to $4.2 billion to finance capital projects, including:
- At least $1.1 billion dedicated to restoration and flood risk reduction;
- Up to $650 million dedicated to open space land conservation projects;
- Up to $1.5 billion dedicated to climate change mitigation;
- And at least $650 million dedicated to water quality improvement and infrastructure.
The kinds of capital projects that will benefit from the bond revenue include projects related to:
- Design;
- Planning;
- Site acquisition;
- Construction;
- And rehabilitation.
In May 2023, funding through the newly-approved Clean Air, Clean Water, and Green Jobs Environmental Bond Act allowed the New York State Government to approve $425 million for New York Water Structure Improvement and Intermunicipal Grant Programs. These grants are only available to New York municipalities. The specific projects that qualify for a grant include water quality infrastructure projects at municipally-owned sewage treatment works or municipally-owned public water systems.
Publication Date: November 2022
Related Organizations:
- State of New York
Sectors:
- Coastal
- Emergency preparedness
- Land management and conservation
Resource Category:
Resource Types:
- Funding program
- Laws
- Legislation
States Affected:
Impacts:
