CA AB3360

Provides a sales and use tax exemption for residents leasing solar electric generation systems that meet California Building Standards Code (Title 24) compliance requirements, effective January 1, 2021 through July 1, 2030.

Exemption applies to rental payments on solar electric generation system leases but does not apply to local sales and use taxes or transactions and use taxes.

Requires the California Department of Tax and Fee Administration to report annually to the Legislature on the revenue value of exemptions taken, with amounts transferred from the Greenhouse Gas Reduction Fund to the General Fund to offset revenue losses.

Establishes legislative findings that the exemption's goal is to promote leasing of solar electric generation systems, with sales and use tax revenue loss serving as the performance indicator.

Requires the Legislative Analyst to collaborate annually with the Department of Tax and Fee Administration to review and report on the exemption's effectiveness and associated revenue losses.