MS HB459

Exempts electric vehicles owned by disabled veterans and spouses of deceased disabled veterans from the annual $150 tax on electric vehicles, if the vehicles are also exempt from ad valorem taxation under Mississippi Code sections 27-19-53 and 27-51-41(2)(j).

Exempts hybrid vehicles owned by disabled veterans and spouses of deceased disabled veterans from the annual $75 tax on hybrid vehicles, if the vehicles are also exempt from ad valorem taxation under the same code sections.

Tax rates for both electric and hybrid vehicles are adjusted annually beginning July 1, 2021, based on the previous calendar year's Consumer Price Index inflation rate, with amounts of 50 cents or more rounded up to the next dollar.

Tax proceeds from both electric and hybrid vehicle taxes are remitted to the Department of Revenue and apportioned to road, street, and bridge repair and maintenance in the same proportion as gasoline and diesel fuel taxes.