MS HB1200

Creates the Mississippi Alternative Fuels Conversion Fund as a special revolving fund in the Department of Finance and Administration to reimburse conversion costs for government and school vehicles to alternative fuels and installation of fill/charge stations.

Establishes maximum reimbursement amounts of $10,000 per vehicle conversion and $300,000 per fill/charge station installation, with fund cap of $5,000,000.

Finances the fund through a surcharge on alternative fuels sold to reimbursement recipients, with the surcharge amount based on monthly fuel cost savings and adjusted periodically by the Department of Revenue.

Requires converted vehicles to use alternative fuels when fill/charge stations are available within five miles and prices are comparable, unless operating outside that radius.

Restricts sale or transfer of converted vehicles and infrastructure until full reimbursement costs are paid back within seven years; effective July 1, 2012.