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MO SB574
Bill
Status
1/8/2014
Primary Sponsor
Brian Munzlinger
Click for details
AI Summary
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Extends the alternative fuel tax credit program through January 1, 2021 (previously set to expire January 1, 2012)
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Adds electric vehicle recharging property to eligible properties for the tax credit, alongside existing alternative fuel vehicle refueling property
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Maintains the maximum tax credit of $20,000 or 20 percent of total costs for equipment purchase and installation
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Reduces the annual cumulative tax credit cap to $1 million per calendar year (previously tiered at $3 million, $2 million, and $1 million for years 2009-2011)
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Requires at least 51 percent of construction costs be paid to qualified Missouri contractors (with exception if none located within 75 miles) and allows credits to be carried forward two years or transferred
Legislative Description
Reauthorizes the alternative fuel tax credit for six years and adds electric vehicles recharging properties to the list of eligible properties
Last Action
Second Read and Referred S Jobs, Economic Development and Local Government Committee
1/16/2014