0971 Alt Energy & Advanced Trans Fin Auth
Program Descriptions

10 - ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY

The Authority is authorized to issue up to $1 billion in total outstanding bond debt to finance alternative energy and advanced transportation projects pursuant to Public Resources Code Section 26020. As of June 30, 2012, CAEATFA has issued $212,072,000 in bonds, and $74.9 million is outstanding.

Financial assistance can take the form of loans, loan loss reserves, interest rate reductions, proceeds of bonds issued by the authority, insurance, guarantees or other credit enhancements or liquidity facilities, contributions of money, property, labor, or other items of value.

In 2010, CAEATFA launched a sales and use tax exclusion (STE) program for advanced transportation and alternative source manufacturing in California (SB 71, Chapter 10, Statutes of 2010). In 2012, CAEATFA's STE program was expanded to include advanced manufacturing (SB 1128, Chapter 677, Statutes of 2012), with an annual cap of $100 million available for STE awards. The objective of CAEATFA's sales and use tax exclusion program is to promote the creation of California-based manufacturing, businesses, and jobs that are aimed to reduce greenhouse gases, air and water pollution, and energy consumption.

In addition, legislation in 2010 (SB 77, Chapter 15, Statutes of 2010) and 2011 (ABx1 14, Chapter 9, Statutes of 2011) has provided CAEATFA with additional statutory authority to provide financial assistance to encourage energy efficiency efforts. Under ABx1 14, CAEATFA developed a loan loss reserve program to assist financial institutions in making loans to homeowners in the state for residential energy efficiency and renewable energy projects.