Voters in New York State have passed a $4.2 billion green infrastructure bond act.
The Clean Water, Clean Air and Green Jobs Environmental Bond Act is the largest environmental bond act in the state’s history. The act was proposed on New York ballots during the midterm elections.
"This November, New Yorkers said ‘Yes’ to investing in clean water to drink, clean air to breathe, reduced flooding, environmental justice and jobs,” says Kate Boicourt, director for Climate Resilient Coasts and Watersheds of New York – New Jersey in a press release by the Environmental Defense Fund. “This Act, propelled forward by an incredible coalition of partners, is a win for everyone and will make an impact in communities across the state for generations to come."
According to Engineering News-Record, the act will allocate bonds for the following categories:
- $1.5 billion will help mitigate climate change impacts
- $1.1 billion will support restoration and flood-risk reduction
- $650 million will support land conservation and recreation
- $650 million will support projects to improve water quality and infrastructure resilience
The act is expected to create more than 84,000 local jobs in helping protect and restore the state’s natural resources.
