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AL SB94
Bill
Status
3/19/2019
Primary Sponsor
Bobby Singleton
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AI Summary
SB94 Summary
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Establishes a one-time state income tax credit for qualified clean-burning motor fuel property beginning October 1, 2020.
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Provides a 50% credit on the cost of equipment to retrofit gasoline/diesel vehicles to run on compressed natural gas, liquefied natural gas, or liquefied petroleum gas, or for vehicles originally equipped with these fuel systems.
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Offers a 50% credit (capped at $3,000) for public access electric vehicle recharging systems and natural gas compression/delivery property installed in private residences.
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Allows taxpayers purchasing used vehicles with such modifications to claim up to 10% of vehicle cost or $2,000 if unable to determine exact installation cost.
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Permits unused credits to carry forward against future state income tax liability for up to five years, with the Department of Revenue authorized to adopt rules for enforcement.
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 General Fund
3/19/2019