IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 29 Dec 2010 | Removal date: open ended
Still in force

State loan

On December 29, 2010 the California Enterprise Development Authority issued Recovery Zone Facility Revenue Bonds for the benefit of the Sunpower Corporation Headquarters Project. The firm makes solar panels. At issuance this bond was valued at $30,000,000. Recovery Zone Facility Bonds (RZFBs) are a type of traditional tax‐exempt private activity bond that may be used by private businesses in designated recovery zones to finance a broad range of depreciable capital projects. They were authorized by Federal law — the American Recovery & Reinvestment Act of 2009 (ARRA) — which created several new types of tax-exempt bonds and tax credit bonds under the Internal Revenue Code. The governmental issuer of these bonds may elect (in lieu of issuing tax-exempt bonds) to receive a direct refundable credit payment from the Federal government equal to a percentage of the interest payments on these bonds. RZFBs are subject to a nationwide volume cap limitation.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

461 Electric motors, generators & transformers; parts
8501 Electric motors and generators (excluding generating sets).
850161 Of an output not exceeding 75 kVA

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