California
Prop 30, Tax on Income Above $2 Million for Zero-Emissions Vehicles and Wildfire Prevention Initiative
Proposition 30 would raise income taxes by 1.75% on Californians who make more than $2 million annually, spending 80% of the estimated $3.5 billion in yearly revenue on electric vehicle (EV) charging stations and rebates for EV purchases, and the remaining 20% on wildfire fighter hiring and training. The California Air Resources Board (CARB) would be directed to prioritize low-income Californians in allocating EV rebates.
California governor Gavin Newsom has decried Prop 30 as a “Trojan horse” initiative and cut an ad opposing it. Newsom’s argument points to Lyft’s substantial funding for the measure, motivated by its desire to have the wealthy subsidize its compliance with a new CARB rule requiring 90% of ride mileage to come from EVs by 2030. It’s a reasonable complaint, but curious coming from someone who was silent two years ago when Lyft spent millions to overturn a California labor law to stop misclassifying drivers.
With support from the California Democratic Party, many labor organizations, billionaire Tom Steyer, legislators like state senator Henry Stern and Rep. Ro Khanna, and environmental organizations, polls show Prop 30 in a pretty strong position to pass (albeit with gradually declining support). We will see if Prop 30’s support holds up against Newsom, the California Chamber of Commerce and Teachers Association, and scolding editorials from the San Jose Mercury News and the LA Times.
Florida
Amendment 1, Disregard Flood Resistance Improvements in Property Value Assessments Measure
If approved by 60% of voters, Amendment 1 would exempt expenditures on home flood resilience improvements from property tax value assessments. The measure is meant to encourage flood mitigation investments by Florida homeowners. One third of the 5 million policyholders in the National Flood Insurance Program (NFIP) live in Florida, and 1.7 million Floridians live in an area that is subject to 100-year flood risk— a figure that is projected to grow considerably in the years ahead.
A long-term reauthorization of the NFIP is needed to modernize flood mapping, provide resources for flood mitigation, and expedite the buyout process for many Florida homeowners who really should relocate. But Congress has perpetually “kicked the can” down the road on NFIP reform. Although the Build Back Better Act included significant reforms, that died in the Senate. With the U.S. Congress failing to provide NFIP relief, a near-unanimous vote of the Florida legislature placed Amendment 1 on the ballot.
Lest we give Florida lawmakers too much credit, an emergency session in May utterly failed to address the climate-driven property insurance “meltdown” taking place there. Available reforms to make insurance more affordable, and shore up Florida’s state-funded reinsurance company by taxing corporations rather than individuals, were rejected.
Georgia
Amendment 2: Temporary Property Tax Change for Disaster Areas Measure
Similar to Amendment 1 in Florida, Georgia’s Amendment 2 would allow temporary property tax relief for any homes that are damaged by climate disasters, if it receives approval from 2/3 of the voters. Georgia has among the most regressive and meager tax systems in the country.
New York
Proposal 1, Clean Water, Clean Air, and Green Jobs Environmental Bond Act
If approved, Proposal 1 would authorize $4.2 billion in general obligation bonds for projects dealing with climate change resilience, including wetlands restoration to mitigate sea level rise, heat pumps, electric buses, and other home energy upgrades. 35% of the bond revenue is required to be dedicated to disadvantaged communities. If passed, Prop 1 will be the first environmental bond act that New York voters have seen in 26 years. It was originally slated to be on the 2020 ballot, after former governor Andrew Cuomo pointed to reports citing mounting state infrastructure costs from climate change. After the pandemic caused the bond measure’s postponement, governor Kathy Hochul revived the effort last year, and called for an additional billion dollar in funding, which some legislators felt was still inadequate. The New York Public Interest Group suggested that the bond should follow the “polluter pay” model of past NY environmental bond measures and repeal fossil fuel subsidies, but those calls were not heeded.