SB 400: Labor: elective compensation under the Inflation Reduction Act of 2022.

This bill authorizes a taxpayer, employer, contractor, or subcontractor to make an elective retroactive wage payment to workers who performed work on a qualified renewable clean energy facility. The payment must be made if certain requirements are met, including that the facility is not a public works project and would not otherwise be subject to the Davis-Bacon Act. The authorization is limited to renewable energy facility construction or repairs commenced on or after January 1, 2023, and completed on or before December 31, 2024. The bill makes related findings and declarations, and it is declared to take effect immediately as an urgency statute.