MS HB1248

Creates a one-time income tax credit for investments in qualified clean-burning motor vehicle fuel property, including equipment to convert gasoline/diesel vehicles to run on compressed natural gas, liquefied natural gas, liquefied petroleum gas, or propane

Provides a 50% tax credit for vehicle conversion equipment or factory-installed alternative fuel systems, with an alternative credit of up to $2,500 or 10% of vehicle cost if exact basis cannot be determined

Offers a 75% per-location tax credit for commercial alternative fuel delivery infrastructure, including compression equipment, storage tanks, and public electric vehicle recharging systems

Allows a credit for residential compressed natural gas fueling systems of 50% of cost or $2,500, whichever is less

Unused credits may be carried forward for up to five years; married couples filing separately may each claim half the credit