California lawmakers pass green-tech tax exemption

SACRAMENTO — California is hoping to promote job growth in the green-technology industry with a new tax break.

The state Legislature on Monday passed a sales tax exemption on the purchase of manufacturing equipment for alternative transportation technologies such electric vehicles and high-speed rail.

The exemption also applies to companies working on renewable energy and other clean technology projects.

The tax credit was passed on a two-thirds vote with bipartisan support. It would take effect immediately and end after 10 years.

Gov. Arnold Schwarzenegger had asked for the sales tax exemption as part of his jobs-creation package. He is expected to sign the bill.

Copyright 2010 The Associated Press.

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