Loading chat...
GA HB348
Bill
Status
Passed
4/4/2014
Primary Sponsor
Don Parsons
Click for details
AI Summary
- Georgia income tax credit of up to $20,000 per vehicle for purchasing alternative fuel heavy-duty vehicles (26,001+ pounds) and up to $12,000 per vehicle for medium-duty vehicles (8,500–26,000 pounds), for purchases made between July 1, 2015, and June 30, 2017
- Alternative fuels are defined as electricity, liquid petroleum gas, natural gas, or hydrogen; hybrid electric drives are excluded unless the vehicle weighs between 8,500 and 26,000 pounds
- Total tax credits capped at $2.5 million per fiscal year (FY 2016 and FY 2017), with individual taxpayer or affiliated entity credits capped at the lesser of their income tax liability or $250,000 per taxable year, with no carryforward or carryback allowed
- Vehicles must be registered in Georgia, certified by the Department of Natural Resources, and the taxpayer must submit a sworn affidavit that at least 75% of the vehicle's mileage will occur in Georgia each year for five years
- Applications are preapproved by the commissioner on a first-come, first-served basis, with credits prorated if same-day applications exceed available funds, and repayment provisions apply if certification requirements are violated within five years
Legislative Description
Income tax credit; purchasers of alternative fuel vehicles; provide
Last Action
Effective Date
4/4/2014
Full Bill Text
No bill text available