In The News

California Budget Proposal Encourages Investments Combating Climate Change

By Dakessian Law | January 25, 2022

California has been a longtime supporter of clean-energy investments.  Next year’s proposed budget promises to offer even more statutory credits and incentives.  The plan includes additions to the current R&D credit for companies headquartered in California that invest in activities and technologies mitigating climate change. In addition, California plans to invest an additional $6.1 billion towards Zero-Emission Vehicle (ZEV) acceleration. This comes on the heels of $4.9 billion in funds currently available from prior years.

Revisions from the Governor’s office are expected in May with the California Legislature submitting a budget bill by June 15. To access the Governor’s Proposed Budget Summary, please visit 2022-23 CA Budget Summary.

Current and go-forward investments, including infrastructure investments, may be eligible for statutory credits and incentives currently available and those expected on the horizon. If you have any questions or would like to discuss whether your company may be eligible, please contact a member of our team.