SECTION 1.
The Legislature finds and declares all of the following:(a) Chapter 728 of the Statutes of 2008 created a regional transportation and land use planning framework to reduce greenhouse gas emissions attributable to driving. Two approaches that allow Californians to drive less, and that and have a myriad of other benefits for
communities and individuals, less are building homes affordable to everyone near frequently used public transit and improving public and active transportation choices.
(b) While demand for more transportation and housing options is high, court action in California Redevelopment Association v. Matosantos (2011) 53 Cal.4th 231 eliminated more than $1,000,000,000 annually that was available for housing development. Additionally, funds from successful state housing bonds are virtually exhausted. Funding for transit in California was cut by more than $4,000,000,000 over the last decade, leading to massive service cuts at transit agencies even as transit ridership soared.
(c) According to the California Air Pollution Control Officers Association, living in an affordable, transit-oriented development can reduce a low-income household’s greenhouse gas emissions from driving by up to 65 percent.
(d) Access to public transportation reduces greenhouse gas emissions. Compared to the 20 percent of households with the best public transportation access, typical households in each of the four most populous regions emitted from 27 percent to 42 percent more transportation-related greenhouse gasses.
(e) Because transit, transit-oriented residential development, and bicycle and pedestrian networks are
significantly underbuilt in California, investments in their expanded production will have real, lasting impacts on greenhouse gas emissions.
(f) Additional greenhouse gas reductions can be realized by incorporating green infrastructure, such as local parks, urban forestry, and open space, as a component of the livability of transit-oriented development, and transit, bicycle, and pedestrian networks. The protection and restoration of these natural resources reduces emissions and contributes multiple environmental benefits that will help California’s communities become climate resilient.
(f)
(g) Those investments will also create and sustain well-paying jobs at a time of high unemployment and generate myriad other local, regional and statewide economic benefits. Every $1,000,000,000 invested in public transit creates and supports 36,000 jobs and generates nearly $500,000,000 in tax revenues. Similarly, every $1,000,000,000 invested in apartments leverages $3,600,000,000 in private and federal investment and creates 34,500 construction and permanent jobs.
(g)
(h) Revenues
Auction proceeds from the state’s cap-and-trade program provide a timely opportunity to generate short-term and long-term environmental and economic benefits for California communities, while meeting high demand for transit-oriented residential development, expanded transit, and active transportation opportunities. opportunities, residential energy efficiency improvements, and natural resource conservation and development.
(h)
(i) Therefore, it is the intent of the Legislature to fund existing programs in the short term and create
a new programs program in the long term to achieve these goals.