MO HB1005

Creates new tax credits for purchasing or converting vehicles to run on alternative fuels (electricity, liquefied petroleum gas, natural gas, or compressed natural gas) placed in service between July 1, 2015 and January 1, 2018

Tax credit amounts based on vehicle weight: $5,000 for vehicles 2,000-10,000 pounds; $7,000 for vehicles 10,000-26,000 pounds; $20,000 for vehicles 26,000+ pounds

Limits individual taxpayers to $100,000 in credits through March 31 of each fiscal year, with unused credits available to any taxpayer after April 1

Combined annual cap of $1 million for both the new vehicle credits and existing alternative fuel refueling/recharging property credits under section 135.710

Allows qualified alternative fuel vehicles to exceed standard gross vehicle and axle weight limits by 2,000 pounds