Bill > SB86

This bill extends and modifies the California Alternative Energy and Advanced Transportation Financing Authority Act, which provides financial incentives for certain types of manufacturing and energy projects. Specifically, the bill extends the sales and use tax exclusion program from January 1, 2026, to January 1, 2031, and increases the maximum cumulative amount of tax exclusions from $100 million to $200 million per calendar year. The bill adds electrical generation facilities using nuclear fusion technology to the list of qualifying projects, alongside existing categories like advanced manufacturing, advanced transportation technologies, and alternative energy sources. The legislation aims to promote California-based manufacturing, job creation, and environmental goals by providing tax incentives for projects that reduce greenhouse gases, air and water pollution, or improve energy efficiency. The bill requires the California Alternative Energy and Advanced Transportation Financing Authority to submit a report to the Legislature by January 31, 2027, evaluating the net economic and environmental effects of the program's extension. The bill takes effect immediately as a tax levy and is designed to support innovative and sustainable industrial development in California.

Budget and Finance

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