Today's Law As Amended


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AB-2421 Bay Delta Conservation Plan: Delta Plan project: costs and benefits.(2011-2012)



As Amends the Law Today


SECTION 1.

 Section 115 is added to the Water Code, to read:

115.
 (a) An independent third-party analysis shall be completed and submitted to the Legislature either prior to any project being submitted by the Bay Delta Conservation Plan to the Delta Plan, or on or before June 30, 2013, whichever occurs first. The analysis of the costs and benefits shall use the Department of Water Resources Economic Analysis Guidebook of 2008 and include all of the following:
(1) The total cost of the project, including, but not limited to, environmental review, planning, design, construction, mitigation, and all related expenses, and the methods for paying those costs.
(2) The expected impacts of the project on taxpayers, water ratepayers, and the General Fund.
(3) Whether the analysis of the costs and benefits determines that the direct social benefits of any proposed project or plan outweigh its social costs over the analysis period. This comparison may be displayed as either the quotient of benefits divided by costs representing the benefit to cost ratio, the difference between benefits and costs representing the net benefits, or both. The analysis shall include whether the project is economically justified, meaning whether the present value of the proposed project exceeds the present value of its net benefits over the life of the project or plan.
(b) The third party that conducts this analysis shall be chosen by the following:
(1) One representative of the Legislative Analyst’s Office.
(2) One representative of the Delta Protection Commission.
(3) One representative of the State Water Contractors.
(c) Funding for the purposes of this section shall not exceed one million dollars ($1,000,000).
(d) (1) A report to be submitted to the Legislature pursuant to subdivision (a) shall be submitted in compliance with Section 9795 of the Government Code.
(2) Pursuant to Section 10231.5 of the Government Code, this section is repealed on June 30, 2017.