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 the authority, until January 1, 2021, to provide financial assistance in the form of a sales and use tax exclusion for certain projects, with the purpose of promoting California-based manufacturing, California-based jobs, advanced manufacturing, 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. This bill would make nonsubstantive changes to these provisions and would delete an obsolete provision.