The biggest measure up for a vote is a $4.2 billion statewide proposal in New York. The proceeds would combat the impacts of climate change through capital projects like flood risk mitigation, open space land conservation and water quality improvement.
Among the 10 biggest bond referendums, which total about $17 billion, many would fund upgrades to schools like safety improvements, expansions or modernizations. San Diego voters will weigh a $3.2 billion bond for the school district, the second-largest measure voters will consider this year. If approved, some proceeds would finance the construction of teacher and workforce housing.
Some states seeking approval for bonding had fewer such referendums last year. Governments in California are asking voters to approve of $14 billion this year. New York state saw its total proposed borrowing jump to $4.2 billion from about $59 million in 2021, driven by the statewide climate bond, according to the IHS Markit data.
Other smaller states also saw large increases in bonding plans. Rhode Island issuers want voters to approve $1.8 billion in bonds. That’s up from about $27 million last year.
This article was provided by Bloomberg News.