|Air Quality Improvement.|
Tax Credits. Initiative Statute.
|Official Title and Summary prepared by the Attorney General|
|Full Text of
|AIR QUALITY IMPROVEMENT.|
TAX CREDITS. INITIATIVE 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 encourage air-emissions reduction through acquisition, conversion, and retrofitting of:
-- vehicles, buses, and heavy-duty trucks;
-- hearth products;
-- construction vehicles and equipment;
-- lawn and garden equipment;
-- 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 of air quality market-based incentive program for prescribed burning projects.
- Establishes local transportation funds as trust funds.
Summary of Legislative Analyst's
Estimate of Net State and Local Government Fiscal Impact:
- Annual net state revenue loss due to new tax credits, averaging in the range of tens of millions to over a hundred million dollars, from 1999 to beyond 2010. Increase in local sales tax revenues, potentially in the millions of dollars annually through 2010-11.
- State costs of up to $4.7 million annually through 2010-11 to administer new tax credit program.
- Potential long-term savings to state and local governments, of an unknown amount, in health care expenditures.
Argument in Favor of Proposition 7
Rebuttal to Argument in Favor of Proposition 7
Argument Against Proposition 7
Rebuttal to Argument Against Proposition 7
Full Text of Proposition 7