CA SB1301

Allows a 10% tax credit against personal income tax and corporation tax for eligible manufacturing costs of clean energy products for taxable years 2023-2027 (amended from 2023-2032).

Defines "eligible manufacturing costs" as newly installed tangible personal property used to manufacture clean energy products including solar panels, wind turbines, zero-emission vehicles, battery packs, heat pumps, and energy storage systems.

Credits exceeding tax liability may be carried forward up to 6 subsequent years until exhausted, and any deduction otherwise allowed must be reduced by the credit amount.

Requires credit to be operative only when resources are authorized in the annual Budget Act or other statute, and the entire provision repeals on December 1, 2028.

Mandates Franchise Tax Board to report annually to the Legislature on total investment amounts and year-over-year changes associated with the tax credits beginning June 30, 2024.