Bill > SB86

This bill extends and modifies the California Alternative Energy and Advanced Transportation Financing Authority Act, primarily focusing on the sales and use tax exclusion program for certain advanced manufacturing and technology projects. The bill extends the authorization for providing financial assistance through sales and use tax exclusions from January 1, 2026 to January 1, 2028, and adds electrical generation facilities using nuclear fusion technology to the types of projects qualifying for this tax exclusion. For large companies with 500 or more employees, starting January 1, 2026, the bill requires applicants to certify that they and their subcontractors will provide competitive wages and benefits, invest in employee training and development, and adopt mechanisms for worker voice and agency. The bill also requires the California Alternative Energy and Advanced Transportation Financing Authority to study the effectiveness of the sales and use tax exclusion, including analyzing job creation, job costs, and economic impact. Additionally, the legislation mandates that the authority submit a report to the Legislature by January 31, 2027, detailing the net effects of the tax exclusion on jobs, economic output, and environmental impacts. The bill takes effect immediately as a tax levy.

Budget and Finance, Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB86