Tax breaks for green energy in Calif.

Green-energy companies in California also benefit from a measure that would give tax relief to homeowners who sell their houses at a loss or are the subject of foreclosure.

That's because the proposed legislation, which Gov. Arnold Schwarzenegger said he will likely sign, provides about $60 million in tax credits to companies that provide renewable energy. It basically is an extension of federal breaks, The Los Angeles Times' Patrick McGreevy writes.

The green credits are provided through the American Recovery and Reinvestment Act, which provides grants to companies that produce renewable power. The federal government does not tax the money and, under the bill approved Thursday, neither will the state, The Times said.