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AL HB127
Bill
Status
2/7/2012
Primary Sponsor
Gregory Wren
Click for details
AI Summary
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Allows an annual state income tax credit for 100 percent of sales tax paid on the purchase of a qualified hybrid motor vehicle, not to exceed $2,000.
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Defines a qualified hybrid motor vehicle as a 4-wheeled gas-electric vehicle acquired on or after October 1, 2012, and previously qualified under Internal Revenue Service regulations.
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Limits the credit to one vehicle per individual and 10 vehicles per business entity.
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Requires the vehicle to be registered in Alabama and the owner to comply with applicable state or federal hybrid vehicle purchase laws in effect during the calendar year the vehicle is titled.
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Becomes effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Income tax, motor vehicles, purchase of any qualified hybrid vehicle, annual sales tax credit authorized for amount of sales tax paid, not to exceed certain amount, definitions
Motor Vehicles
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
2/7/2012