California Alternative Energy and Advanced Transportation Financing Authority: sales and use taxes: exclusions.

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, as defined, including those that promote 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. The act requires the authority to evaluate a project application based on specified criteria, including, among others, the extent to which the project will create new, permanent jobs in the state. This bill instead would require the authority to evaluate a project application for the extent to which the project will create new, or result in the loss of, permanent, full-time jobs in the state, as specified. This bill would incorporate additional changes to Section 26011.8 of the Public Resources Code proposed by AB 1583 to be operative only if this bill and AB 1583 are enacted and this bill is enacted last. 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.