Contains a severability clause. Contains a Proposition 108 clause requiring a two-thirds vote of both the Senate and House of Representatives for enactment. Amendments Adopted by Committee 1. Delays for an additional year the changes to the transportation support level for school districts in Area A with an average daily membership of more than 3,000 students for an additional year to July 1, 2003. Reduces the number of years over which a taxpayer may elect to receive an alternative fuel related tax credit from up to five years to up to three years.
Interest is to be calculated annually.
Prioritizes, within monies available in the BSF, the funding of ASH construction over the funding of alternative fuel related tax credits. Changes, from monthly deposits to one annual deposit at the beginning of the fiscal year, the deposit schedule for BSF monies earmarked for ASH construction. Requires DOR to report monthly to the Governor, the Legislature and the State Treasurer on the amount of tax credits claimed. Requires DOA to report monthly to the Governor, the Legislature and the State Treasurer on the amount of cost reimbursement claims paid. Decreases the maximum payout period for the tax credits from five years to three years.