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Do I correctly recall that this credit is an AMT preference item?

It would not be a preference item - those only affect income and deductions. This is a credit.

Off the top of my head, I don't recall if this credit is allowable for AMT purposes. If no one chimes in soon, I'll see if I can look it up quickly.

And does California conform to federal law with respect to this credit? I know that California did not conform to federal law with respect to last year's $2000 "clean fuel" exclusion.

It's a credit, not a deduction, so California is unlikely to conform. Although our legislature is famous for after-the-fact tax changes, I doubt if this would be one.

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