California Legislative Analyst's Office

Included in that $11.25 billion, there's a $1.25 billion portion that goes towards the CalVet Home Loan Program, which helps veterans become homeowners.

The Legislative Analyst's Office did a report on Prop 1, and it says the money from this bond could build up to 40,000 rental units, and it could help 40,000 households buy a home.

So in total, it could help more than 80,000 families stay housed.

All right, so we're at the beginning of Prop Fest.

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There are some Californians who are worried about taking on debt.

Yes, these programs will be funded, but the Legislative Analyst's Office predicts that it would cost about 500 to 600 million annually to repay this bond for the next 25 years.

That's about a quarter of a percent of the state's total general fund budget.

It wasn't delivered until, I think, three days after the vote happened.

And then that business plan was given to the Legislative Analyst's Office.

And here's what they had to say.

The LAO said, key information is missing, including sources of funding and confidence in those sources, timeline for design and environmental clearance, identification of risks and risk mitigation, service levels by segment.

with a B, $36 billion.

Helen Kirstein with the California Legislative Analyst's Office and the project's Inspector General, Benjamin Belknap, have already warned lawmakers that the draft plan lacks transparency around those major changes.

But Ian Shudry doesn't care.

He's the CEO of California High Speed Rail, where there's no accountability, there's no fact-checking, there's no budget, there's no timeline, there's no expectation of a demonstration of anything at all being accomplished.

Would not expect it to move, but hey, crazy things have happened before the end of legislative sessions before, so we won't say it's over until it's over.

But that I wouldn't expect to be done as a conversation point anytime soon, because there was legislation that was passed and has gone to the governor that will require the Legislative Analyst's Office to conduct a study of tax expenditures that could be utilized to help raise additional revenue in the future.

Listed amongst those is the Water's Edge election.

That report will be due out January 2028 under the legislation.