Title

Alcohol Fuel

Secretary of State No.

208

Description

ALCOHOL FUEL. INITIATIVE CONSTITUTIONAL AMENDMENT. Defines "alcohol fuel" and establishes its legality. Provides tax credits within specified limits for costs of: conversion of engines to burn alcohol fuel and establishment of facilities at which alcohol fuel and its by-products are manufactured. Allows unused portions of these tax credits to be carried over into subsequent tax years. Exempts from taxation 15% of gross income derived by a grower-producer from sale of biorenewable materials used to manufacture alcohol fuel. Provides that authorization for the exemption and credits expires on January 1, 1999. Financial impact: Could result in a substantial reduction of state income tax revenues and a small increase in sales and fuel tax revenues for state and local governments.

Proponents

Bill L. Withrow, 8154 Sentinel Street, Fair Oaks, Ca 95628 (916) 966-2273

Date

8-28-1979

Document Type

Initiative

Qualified

Failed to Qualify

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