SACRAMENTO, Calif. /California Newswire/ — The California Energy, Utilities and Communications Committee, Chaired by Senator Alex Padilla (D-Pacoima) and the Committee on Governance and Finance, Chaired by Senator Lois Wolk (D-Davis) will hold a joint hearing in Sacramento tomorrow to review implementation of California’s Advanced Transportation and Alternative Source Manufacturing Sales and Use Tax Exclusion Program.
State Treasurer Bill Lockyer, California solar industry executives and the California Legislative Analyst’s office will participate in the hearing. In its first 12 months, more than 26 companies were approved for the sales and use tax exclusion program including Solyndra which later famously went bankrupt.
The hearing will be held in Room 4203 of the State Capitol tomorrow, Wednesday, October 19, 2011 at 2 p.m. Hearing will be webcast live at www.calchannel.com.
“It has been 12 months since the program began. We have a responsibility to stop and evaluate the program to ensure it is meeting its goals of promoting and incentivizing California-based green manufacturing jobs. We want to make sure there is accountability, transparency and tangible outcomes that benefit the state,” said Senator Alex Padilla. “This hearing is an opportunity to identify where the program is working and where it may need improvement,” Padilla added.
The Advanced Transportation and Alternative Source Manufacturing Sales and Use Tax Exclusion Program is administered by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), Chaired by State Treasurer Bill Lockyer. The authority approves sales and use tax exclusions for California based manufacturing companies to promote manufacturing jobs and meet the state’s renewable energy goals.
