California lawmakers will likely have to reapprove $250 million for the newly-announced Olympic games in Los Angeles. A law passed last year authorizes the funding in case of cost overruns, but it only mentions a 2024 Olympics.
Democratic Senate leader Kevin de León authored the law. While his office couldn’t immediately say whether he believes a new vote is necessary, the measure explicitly refers to 2024, not the 2028 games the city has now settled on with the International Olympic Committee.
The bill would have allowed the governor to make up to $250 million available, if the games’ expenses exceeded all other available funding sources, including event revenue, insurance and payments by the City of Los Angeles. The measure passed with wide bipartisan support.
The City of Los Angeles projects it will not need to tap state funding. In its bid, the city predicts revenue will cover the cost. Unlike other recent host cities, LA’s proposing to limit expense and risk by holding the games at existing facilities, rather than building new ones.
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.