California Pollution Control Financing Authority (CPCFA) Exempt Facility Bond Financing Program

About this program

The California Pollution Control Financing Authority (CPCFA), within the State Treasurer’s Office, provides ongoing access to low-cost, tax-exempt private activity bond financing for the acquisition, construction, or installation of qualified pollution control, water, wastewater, waste disposal, and resource recovery facilities and equipment. Eligible uses include buildings, machinery, land, and certain project and bond issuance costs, with financing generally ranging from $1.5 million to $550 million and subject to California Debt Limit Allocation Committee (CDLAC) allocation. Applicants may be any qualified California business, regardless of size, and the financed facility or equipment must be located in California. Projects must satisfy federal tax requirements—including use-of-proceeds limits and a required TEFRA hearing—with final eligibility determined by bond and tax counsel; repayment remains the borrower’s responsibility.