SEC. 2. (a) It is the intent of the Legislature to apply the requirements of Section 41 of the Revenue and Taxation Code to this act.
(b) With respect to Section 6377 of the Revenue and Taxation Code, as added by this act, the Legislature finds and declares the following:
(1) The specific goals, purposes, and objectives of this act are as follows:
(A) To assist transit agencies in transitioning bus fleets to zero-emission by reducing upfront capital costs and incremental costs between technologies.
(B) To overcome an important upfront funding shortfall that currently impedes procurement of zero-emission transit buses and is critically needed to help public transit agencies ramp up to the Innovative Clean Transit initiative.
(C) To eliminate mobile criteria pollutant emissions and clean the air in disadvantaged communities.
(D) To substantially reduce greenhouse gas emissions.
(2) The performance indicators related to this act are as follows:
(A) The annual number of zero-emission transit bus purchases by transit authorities and agencies statewide.
(B) The annual number of zero-emission transit buses purchased in advance of the Innovative Clean Transit initiative timelines.
(3) The data collection requirements to enable the Legislature to determine whether the tax exemption is meeting, failing to meet, or exceeding its specified goals, purposes, and objectives are as follows:
(A) The Legislative Analyst’s Office shall review the effectiveness of the tax exemption and may request information from the Franchise Tax Board California Department of Tax and Fee Administration and any state governmental entity with authority relating to the purchasing of
transit buses.
(B) The Franchise Tax Board California Department of Tax and Fee Administration and any state governmental entity with authority relating to the purchasing of transit buses shall provide to the Legislative Analyst’s Office any data requested by
the Legislative Analyst’s Office pursuant to this subparagraph. paragraph.