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ILN Today Post

California: Infrastructure bill part of state budget revision

South Carolina is not the only state determined to do something about its crumbling infrastructure. California also recently passed a bill, SB 1, but in contrast to the Palmetto State’s situation, which we detailed last week, California’s Gov. Jerry Brown happily signed it. In a press release describing the measure, he declared that it will “provide $54 billion in new funding over the next decade, split evenly between state and local funding.”

According to the most recent analysis, $26.6 billion of that total amount would be dedicated for local expenditures and $25.8 billion for state purposes. By year, overall revenues are estimated at $2.78 billion in 2017-18, $4.55 billion in 2018-19, and $4.88 billion in 2019-20. After that, revenues are generally expected to rise annually, once all sources are fully implemented, and the specified adjustments are made each year by the California Consumer Price Index. Revenues are calculated to eventually reach approximately $6.5 billion by 2026-27.

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