New York's Clean Water, Air, And Jobs Act Bond Vote: Reports

ALBANY, NY — The state's voters approved Proposition 1A, the Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022, Newsday reported.

RELATED STORY:

• Suffolk Politicos Say Election Results Might Not Come For Hours

As of 12:15 p.m. the state’s Board of Elections was reporting its unofficial tally:

Yes: 3,337,679 votes or 59.06 percent of the vote

No: 1,627,936 votes or 28.80 percent of the vote

If approved, the act would:

• Authorize 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.
• 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.
• 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.
• 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.
• 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.