Financial assistance: Clean Energy Economy and Jobs Incentive Program.

Existing law establishes the California Alternative Energy and Advanced Transportation Financing Authority and requires the authority to provide financial assistance in the form of a sales and use tax exclusion for applicants 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 require the authority to establish the Clean Energy Economy and Jobs Incentive Program to provide financial assistance in the form of specified financing mechanisms to eligible California-based entities for the manufacturing of an eligible clean energy technology project, as specified. The bill would establish the Clean Energy Economy and Jobs Incentive Program Fund in the State Treasury and would, upon appropriation by the Legislature, authorize the authority to expend moneys in the fund to implement the program. The bill would repeal the program on January 1, 2018.