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CA Gov Signs Bill Incentivizing Clean Tech Entrepreneurs

March 31, 2010

Gov. Arnold Schwarzenegger last week signed a bill creating a sales tax exemption for equipment used by clean-tech manufacturers — a measure the governor hopes will attract entrepreneurs investing in the clean energy sector. SB 71 is part of the governor's $500 million jobs initiative announced during his State of the State address that aims to train up to 140,000 workers create 100,000 jobs. The enacted legislation will allow the state to maintain a competitive edge by expanding the range of projects that may be approved for a sales tax exemption to include all clean-tech manufacturers, according to a press release. The enrolled version of the bill is available at: http://www.leginfo.ca.gov/pub/09-10/bill/sen/sb_0051-0100/sb_71_bill_20100322_enrolled.pdf