Authorizes a $75,000,000 bond issue for coastal climate resiliency grants.

This bill authorizes the issuance of $75,000,000 in bonds to fund grants for county, municipal, and tribal governments, and regional councils to improve coastal climate resiliency and upgrade engineered beaches. The proceeds must be held by the Treasurer of State and are subject to a statewide election for ratification. If approved, the funds will be administered by the Office of Policy Innovation and the Future. The bonds are a pledge of the full faith and credit of the State and cannot be loaned, pledged, or hypothecated.

Authorizes a $75,000,000 bond issue for coastal climate resiliency grants.

This bill authorizes the issuance of $75,000,000 in bonds to fund grants for county, municipal, and tribal governments, and regional councils to improve coastal climate resiliency and upgrade engineered beaches. The proceeds must be held by the Treasurer of State and are subject to a statewide election for ratification. If approved, the funds will be administered by the Office of Policy Innovation and the Future. The bonds are a pledge of the full faith and credit of the State and cannot be loaned, pledged, or hypothecated.