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MS SB2990
Bill
AI Summary
- Authorizes a 50% tax credit for taxpayers who install a new, public-access electric vehicle charging station during calendar years 2020, 2021, or 2022
- Credit may be applied against income tax, premium and related retaliatory taxes, or franchise tax, with a limit of $3 million per year ($9 million cumulative over three years)
- Taxpayers must submit applications to the Department of Revenue and cannot transfer or refund unused credits, though unused credits may be carried forward for up to five years
- Requires taxpayers claiming the credit to submit annual reports to the Department of Environmental Quality for five years, documenting charging events, vehicles charged, and kilowatt-hours dispensed
- Effective January 1, 2020
Legislative Description
Fueling Station Tax Credit Act; create.
Last Action
Died On Calendar
6/3/2020
Committee Referrals
Finance5/12/2020
Full Bill Text
No bill text available