MO SB103

Repeals and replaces section 135.710, RSMo, to extend the alternative fuels tax credit program from 2012 to 2017 and add a new tax credit for vehicle conversions to natural gas.

Defines "alternative fuels" as motor fuels containing at least 70 percent ethanol, natural gas, compressed natural gas, liquified natural gas, liquified petroleum gas, biodiesel-diesel mixtures, or hydrogen.

Allows eligible applicants operating alternative fuel refueling stations a tax credit of up to $20,000 or 20 percent of equipment installation costs for tax years 2014-2016.

Creates a new tax credit for eligible applicants making 25 or more qualified conversions of vehicles from petroleum-based fuels to natural gas-based fuels, with a credit of up to $2,500 per conversion or 10 percent of conversion costs.

Sets cumulative annual tax credit cap at $1 million per year and requires the Director of Revenue to establish procedures for proportional apportionment among eligible applicants; program automatically sunsets six years after August 28, 2013, unless reauthorized by the General Assembly.