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AL HB242
Bill
Status
2/12/2013
Primary Sponsor
Gregory Wren
Click for details
AI Summary
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Allows an annual state income tax credit equal to 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 qualified hybrid motor vehicle as a 4-wheeled gas-electric vehicle acquired on or after October 1, 2012, and previously qualifying under Internal Revenue Service regulations.
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Limits 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 have complied with applicable state or federal laws governing hybrid vehicle purchases in the year the vehicle is titled.
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Takes effect 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
2/12/2013