California § 44274.10. 44274.10. (Amended by Stats. 2022, Ch. 574, Sec. 11.)

California Statutes

§ 44274.10. — 44274.10. (Amended by Stats. 2022, Ch. 574, Sec. 11.)

California·Code HSC Health and Safety Code - HSC·Div. 26. DIVISION 26. AIR RESOURCES·Part 5. PART 5. VEHICULAR AIR POLLUTION CONTROL·Ch. 8.9. CHAPTER 8.9. California Alternative and Renewable Fuel, Vehicle Technology, Clean Air, and Carbon Reduction Act of 2007·Art. 4. ARTICLE 4. Medium- and Heavy-Duty Zero-Emission Vehicle Fleet Purchasing Assistance Program

For purposes of this article, the following definitions apply:

(a)“Financing tools” includes, but is not limited to, any of the following:

(1)Capital instruments, which are financing instruments that increase access to capital or other resources or reduce the cost of capital, or both, such as interest rate reductions, public-backed “soft” loans, grants, bonds, and investment aggregation, also known as warehousing.

(2)Risk reduction instruments, which are financing instruments that reduce exposure to risk or uncertainty, such as performance guarantees and asset residual value guarantees.

(3)Cost smoothing instruments, which are financing instruments that reduce and smooth up-front or recurrent costs, or both, such as operational leasing, all-inclusive leasing, also known as wet le

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For purposes of this article, the following definitions apply:
(a)
“Financing tools” includes, but is not limited to, any of the following:
(1)
Capital instruments, which are financing instruments that increase access to capital or
other resources or reduce the cost of capital, or both, such as interest rate reductions, public-backed “soft” loans, grants, bonds, and investment aggregation, also known as warehousing.
(2)
Risk reduction instruments, which are financing instruments that reduce exposure to risk or uncertainty, such as performance guarantees and asset residual value guarantees.
(3)
Cost smoothing instruments, which are financing instruments that reduce and smooth up-front or recurrent costs, or both, such as operational leasing, all-inclusive leasing, also known as wet leasing, lease-purchase agreements, and on-bill financing.
(b)
“Fleet” means one or more vehicles under common control or ownership.
(c)
“Medium- and heavy-duty vehicle” includes, but is not limited to, trucks, buses, and vehicles used for construction and earth moving purposes.
(d)
“Nonfinancial supports” means technical support, such as supports for technical management of
electric medium- and heavy-duty vehicles, technical assistance for financing approaches, battery health programs, and creation of residual markets, or policy action, such as policy measures to enable financing or encourage fleet transitions.
(e)
“Program” means the Medium- and Heavy-Duty Zero-Emission Vehicle Fleet Purchasing Assistance Program established pursuant to Section 44274.11.
(f)
“Underserved community” means any of the following communities:
(1)
A low-income community as defined by paragraph (2) of subdivision (d) of Section 39713.
(2)
A community identified as a disadvantaged community by the California Environmental Protection Agency pursuant to Section 39711.
(3)
A community selected by the state board pursuant to Section 44391.2.
(4)
A community located on lands belonging to a federally recognized California Native American tribe.

California § 44274.10. (44274.10. (Amended by Stats. 2022, Ch. 574, Sec. 11.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.