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Committee backs bill to conform California code to federal clean‑energy tax transfer rules
Summary
Senate Bill 302, presented by Senator Padilla, would align California tax law with the federal Inflation Reduction Act to allow transfer or sale of certain federal clean‑energy tax credits without state tax penalties; committee voted to pass the measure to appropriations as amended.
Senate Bill 302, authored by Senator Alex Padilla, was advanced by the Senate Revenue and Taxation Committee to the Committee on Appropriations after widespread support from clean energy industry groups and trade associations.
Padilla described SB 302 as a conformity bill that updates California law to reflect mechanisms in the federal Inflation Reduction Act allowing eligible taxpayers to monetize or transfer certain federal clean‑energy tax credits. He told the committee that without conformity California businesses that sell federal energy tax credits could be required to…
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