California Provides Tax Break Aimed at Aiding Lithium Developers

Additional funding for sales tax exclusions is intended to promote the exploration and extraction of California’s lithium deposits, a critical component in batteries for zero-emissions vehicles.

Governor Gavin Newsom signed into law legislation to fund tax exclusions for alternative energy projects under the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA). AB 2887 increases the total amount available each year for sales and use tax exclusions for equipment used in alternative energy and transportation pro…