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AL SB256
Bill
Status
1/30/2018
Primary Sponsor
Robert Ward
Click for details
AI Summary
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Establishes a one-time income tax credit for tax years beginning January 1, 2019, for qualified clean-burning motor fuel property and vehicles.
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Allows a 50 percent credit on the cost of equipment to convert gasoline or diesel vehicles to compressed natural gas, liquefied natural gas, or liquefied petroleum gas, or for original equipment vehicles of these types.
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Provides a 50 percent credit (capped at $2,500) for commercial fuel delivery property and public electric vehicle recharging systems, and a 50 percent credit (capped at $2,500) for residential natural gas compression equipment.
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Permits alternative credit of 10 percent of vehicle cost (capped at $1,500) for used vehicle purchases where original owner did not claim the credit.
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Allows unused credits to carry forward for up to five years and authorizes the Department of Revenue to adopt enforcement rules.
Legislative Description
Income tax, credit for certain qualified clean-burning motor fuel property including motor vehicles propelled by compressed natural gas, liquified natural gas, or liquified petroleum gas, limitation, Revenue Dept. authorized to make rules
Taxation
Last Action
Read for the first time and referred to the Senate committee on Finance and Taxation Education
1/30/2018