California Water Infrastructure Act of 2014.

(1) Existing law creates the Safe, Clean, and Reliable Drinking Water Supply Act of 2012, which, if approved by the voters, would authorize the issuance of bonds in the amount of $11,140,000,000 pursuant to the State General Obligation Bond Law to finance a safe drinking water and water supply reliability program. Existing law provides for the submission of the bond act to the voters at the November 4, 2014, statewide general election. This bill would repeal these provisions. (2) Under existing law, various measures have been approved by the voters to provide funds for water supply and protection facilities and programs. This bill would enact the California Water Infrastructure Act of 2014, which, if adopted by the voters, would authorize the issuance of bonds in the amount of $5,800,000,000 pursuant to the State General Obligation Bond Law to finance public benefits associated with water storage and water quality improvement projects. This bill would provide for the submission of this bond act to the voters at the November 4, 2014, statewide general election. This bill would declare that it is to take effect immediately as an urgency statute.