Another key factor for funding infra-


structure is California’s cap-and-trade program. Te Governor and Legislature are expected to begin negotiations this year to extend the program beyond its 2030 expiration date. Addressing the extension sooner may allow for greater certainty and attract stable investments. However, with the state focused on recov- ery in Southern California, it is unclear if a deal will be finalized this year.


Creation of Two New Agencies Structural bureaucratic changes are also on the table, including the creation of two new agencies from the current Cali- fornia Business, Consumer Services and Housing Agency to the California Hous- ing and Homelessness Agency and the California Consumer Protection Agency. Tese changes would improve the state’s response to housing, homelessness, and


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The construction industry continues to fare well from continued federal and state investments, including $66 billion in federal funds and $42.3 billion in state investments since 2021. Bond measures approved in the 2024 ballot will provide $10 billion each to educational facilities (K-12 and community colleges), and impact climate change through infrastructure improvements.


consumer protection. Any reorganization plan would require approval from the Little Hoover Commission and the Legislature. For now, the Legislature is reviewing and holding hearings on the Governor’s proposed budget. Te May revised bud- get proposal will start the final nego- tiations between the Legislature and


Governor, with a budget deal expected by the end of June.


Melanie Perron


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CALIFORNIA CONSTRUCTOR MARCH/APRIL 2025


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