Technology financing: California Alternative Energy and Advanced Transportation Financing Authority Act.

(1) The California Alternative Energy and Advanced Transportation Financing Authority Act, administered by the California Alternative Energy and Advanced Transportation Financing Authority, among other things, authorizes the authority until January 1, 2021, to approve a project, as defined, for financial assistance in the form of a specified sales and use tax exclusion, in order to promote the creation of California-based manufacturing, California-based jobs, the reduction of greenhouse gases, or reductions in air and water pollution or energy consumption. This bill would authorize the authority, in coordination with the State Energy Resources Conservation and Development Commission, to establish the Clean Energy and Fuels Manufacturing Financial Assistance Program to solicit submission of applications from lender-applicants in the form of requests for bond financing, loans, loan loss reserve, or risk-sharing loan guarantees, for eligible projects, as defined, in order to promote the creation of California-based manufacturing, California-based jobs, and the reduction of greenhouse gas, air, or water pollution. The bill would require the authority, among other things, to publish notice of the availability of financial assistance and would require the authority to adopt regulations to evaluate lender-applicant applications based on need, job development, environmental benefit, and financial risk. The bill would authorize the authority, among other things, to use federal funds, state special funds, or private funds to the extent those funds would be necessary to develop the program. The bill would also authorize the authority to establish a collective risk pool paid for by private parties if federal or state funds are not available. (2) This bill would declare that it is to take effect immediately as an urgency statute.