Sales and use taxes: exclusion: alternative energy financing.

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 any lease or transfer of title of tangible personal property constituting a project to any participating party, and defines a project and participating party for those purposes. The act limits the sales and use tax exclusion to $100,000,000 for each calendar year. This bill would expand those persons eligible for the sales and use tax exclusion, which is limited in amount, to additionally include any contractor for use in the performance of a construction contract for the participating party that will use that property as an integral part of the approved project. This bill would also allow the exclusion amount granted by the authority in any year to include any amounts not granted or amounts granted but unused from the previous calendar year beginning in the 2017 calendar year. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy.