Attorney General No.

SA97RF0044

Secretary of State No.

778

Description

TAX CREDITS. AIR QUALITY. INITIATIVE CONSTITUTIONAL AMENDMENT AND STATUTE. Authorizes State Air Resources Board, and delegated air pollution control districts, to award $218 million in state tax credits annually, until January 2011, to expedite and encourage air-emissions reduction through acquisition, conversion, and retrofitting of vehicles and heavy-duty trucks; hearth products; construction vehicles and equipment; lawn and garden equipment; pumps and generators; ambient air pollution destruction technology; off-road, nonrecreational vehicles; port equipment; agricultural waste and rice straw conversion facilities; and through research and development. Requires study for air quality market-based incentive program for prescribed burning projects. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure would result in a net annual state General fund revenue loss averaging in the tens of millions to over a hundred million dollars from 1999 to beyond 2010 for tax credits for air quality improvements. The revenue loss could exceed $218 million in some years. It would also result in an increase in local sales tax revenues, potentially in the millions of dollars annually through 2010-11, from purchases of equipment. State General Fund costs of about $4.7 million annually through 2010-11 for administration of the tax credit program would also occur. There may also be potential long-term savings to state and local governments, of an unknown amount, in health care expenditures.

Proponents

Gerald H. Meral Planning And Conservation League, 926 "J Street, Room 612, Sacramento, Ca 95814 (916) 444-8726

Date

12-9-1997

Document Type

Initiative

Qualified

Failed to Qualify

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