State government: public investment opportunities: cost-effective definition.
Impact
If enacted, AB 1430 is expected to refine the criteria used to determine cost-effectiveness in state investments, aligning it more closely with broader state priorities such as economic, environmental, and public health benefits. The requirement for a joint public process also emphasizes transparency and the importance of public input in governmental decision-making related to state-funded projects. This shift could potentially lead to more informed and holistic decision-making in public investments, benefiting the state's residents and improving resource allocation.
Summary
Assembly Bill No. 1430, introduced by Assembly Members Eduardo Garcia and Burke, aims to redefine the term 'cost-effective' within the context of public investment opportunities. This bill mandates a joint assessment by key state agencies—the Public Utilities Commission, the State Air Resources Board, the California Transportation Commission, and the Labor and Workforce Development Agency—by January 1, 2021. The goal is to consider how investments can be better prioritized by evaluating various factors that would impact state programs, costs to households, and overall benefits for the public and the environment.
Contention
While the bill proposes a structured approach to redefining cost-effectiveness, it may also face scrutiny from stakeholders who may view the redefinition as potentially altering the prioritization of projects. Some parties might be concerned that changes in definitions could impact funding allocations for certain programs or projects that need urgent attention. The extent to which varying opinions from stakeholders will be integrated into the discussions and final assessment could be a notable point of contention as the agencies proceed with this mandate.