Alternative energy.

The California Alternative Energy and Advanced Transportation Financing Authority Act establishes the California Alternative Energy and Advanced Transportation Financing Authority. The act authorizes, until January 1, 2021, the authority to provide financial assistance in the form of a sales and use tax exclusion for projects, including those that promote California-based manufacturing, California-based jobs, the reduction of greenhouse gases, or the reduction in air and water pollution or energy consumption. The act prohibits the sales and use tax exclusions from exceeding $100,000,000 for each calendar year. The act authorizes the authority, until July 1, 2016, to grant financial assistance in the form of a sales and use tax exclusion for projects that promote the use of advanced manufacturing. This bill would extend the authorization to grant the above financial assistance to projects that promote the use of advanced manufacturing to January 1, 2021. By extending the eligibility of projects that promote the use of advanced manufacturing for the sales and use tax exclusion, which is limited at $100,000,000 annually, this bill would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution. This bill would incorporate additional changes in Section 26003 of the Public Resources Code, as amended by Section 1 of Chapter 540 of the Statutes of 2013, proposed by AB 199, that would become operative only if this bill and AB 199 are both chaptered and become effective on or before January 1, 2016, and this bill is chaptered last. This bill would incorporate additional changes in Section 26003 of the Public Resources Code, as amended by Section 2 of Chapter 540 of the Statutes of 2013, proposed by AB 199, that would become operative only if this bill and AB 199 are both chaptered and become effective on or before January 1, 2016, and this bill is chaptered last. This bill would incorporate additional changes to Section 26011.8 of the Public Resources Code, as amended by Section 3 of Chapter 540 of the Statutes of 2013, proposed by AB 199, that would become operative only if this bill and AB 199 are both chaptered and become effective on or before January 1, 2016, and this bill is chaptered last.