California Legislators Eye Climate Bond to Prepare for Disasters

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SACRAMENTO (AP) — In a state burdened by billions of dollars in wildfire damage, California lawmakers are hoping for an advance loan before the next climate-fueled catastrophe hits.

Lawmakers in the Democratic-dominated state Legislature return to work Monday for the second year of a two-year session. Their to-do list includes a $4.2 billion climate bond, an ambitious proposal to borrow money before they need it to prepare for the types of natural disasters that have plagued the state. The disasters are so destructive they forced the nation’s largest utility, Pacific Gas & Electric, to file for bankruptcy last year.

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