On May 13, 2022, Governor Gavin Newsom released the 2022-23 May Revision to the Governor’s Budget. The spending plan proposes $301 billion in total spending, which consists of funds from the General Fund ($227.3 billion), as well as special funds ($68.9 billion) and bond funds ($4.4 billion).
The revised budget increases spending earmarked for climate change, adding $9.5 billion in funds over four years and bringing total state climate change funding to $32 billion over five years. According to the Budget Summary on Climate Change, the funds will “advance the state’s Climate and Opportunity Budget, provide equitable climate solutions, protect communities, and support energy reliability” as the effects of California’s extended drought continue to grow.
To read the summary, visit California’s 2022-23 May Revision to the Governor’s Budget.