The Legislative Analyst’s Office agrees with the Newsom administration that the state needs to finance more flood projects in the Central Valley. The advisor is urging lawmakers to go beyond the current patchwork approach and instead work on a long-term solution.
The governor is proposing to spend $31 million on three multibenefit projects that reduce flood risk and improve habitat and water supplies. While floodplain restoration and groundwater recharge are laudable goals, LAO points out that the valley is short $30 billion in flood protection investments and this will be a recurring issue in the years ahead.
The office suggests lawmakers weigh the benefits of these projects against other budget priorities and draw down spending elsewhere to cover the cost. It is also urging the Legislature to develop a longer-term approach for financing flood projects, such as asking voters to decide on a general bond.
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LAO, meanwhile, anticipates the Department of Pesticide Regulation will become insolvent within a year if no action is taken. It agrees with the governor’s proposal to dramatically increase the mill assessment to cover the shortfall.
LAO will soon release a separate report examining DPR’s budget crisis in more detail.
