Alternative energy: recycled feedstock.

Existing law establishes the California Alternative Energy and Advanced Transportation Financing Authority to provide financial assistance for projects that promote the use of alternative energies. Existing law, until January 1, 2021, authorizes the authority to approve a project for financial assistance in the form of a sales and use tax exclusion. Existing law prohibits the authority from granting sales and use tax exclusions that exceed $100,000,000 for each calendar year. This bill would expand projects eligible for the sales and use tax exclusion to include projects that process or utilize recycled feedstock, but would not include a project that processes or utilizes recycled feedstock in a manner that constitutes disposal. This bill would incorporate additional changes to Sections 26003 and 26011.8 of the Public Resources Code proposed by AB 1269 that would become operative only if this bill and AB 1269 are chaptered and become effective on or before January 1, 2016, and this bill is chaptered last. This bill would declare that it is to take effect immediately as an urgency statute.