MO HB2694

Creates a new tax credit (Section 135.711) for purchasing or converting vehicles to run on alternative fuels including electricity, liquefied petroleum gas, natural gas, or compressed natural gas, with credits of $5,000 for vehicles 2,000-10,000 lbs, $7,000 for vehicles 10,000-26,000 lbs, and $20,000 for vehicles over 26,000 lbs

Limits individual taxpayers to $100,000 in credits through March of each fiscal year, with unused credits available to any taxpayer after April 1st; total annual credits capped at $1 million combined with the existing refueling property credit program

Allows qualified alternative fuel vehicles to exceed standard gross vehicle weight and axle weight limits by 2,000 pounds under Section 304.180

Credits are non-refundable and non-transferable but may be carried forward for up to 10 subsequent tax years; applies to vehicles placed in service between July 1, 2016 and January 1, 2018

Program automatically sunsets 6 years after the effective date unless reauthorized by the General Assembly