(May 16, 2007) The California Chamber of Commerce is supporting legislation to stimulate California’s economy and encourage businesses to reduce their carbon footprint.

AB 1527 (Arambula; D-Fresno) will provide a tax credit for equipment purchased to manufacture clean technologies and for the costs of research and development of clean technologies.

With the signing of AB 32 (Núñez; D-Los Angeles) in 2006, climate change mitigation has become a priority for California. In order for the state to remain an economic and environmental leader in the world community, businesses must be given the tools they need to reach the ambitious goals set by AB 32.

The CalChamber believes that in order to successfully reduce global greenhouse gas emissions, businesses should be a part of the solution. Many states across the nation are competing for investments and jobs in clean technology production and research.

These states recognize clean technology as the new frontier for investments and economic development. California needs to take proactive and aggressive steps to position itself as the leader in clean technologies.

Adoption of the investment incentives provided in AB 1527 will help the state achieve the dual goals of encouraging investments and economic development in clean technology as well as facilitating reduction of greenhouse gas emissions.

Action Needed
AB 1527 is scheduled to be considered by the Assembly Revenue and Taxation Committee on May 21.

Contact committee members and your Assembly representative and urge them to support AB 1527.

Staff Contact: Kyla Christoffersen