MS SB2926

Excludes motor vehicles incapable of exceeding 35 miles per hour from the definition of "electric vehicle," exempting them from the $150 annual electric vehicle tax

Excludes motor vehicles incapable of exceeding 35 miles per hour from the definition of "hybrid vehicle," exempting them from the $75 annual hybrid vehicle tax

Requires refunds of any electric or hybrid vehicle taxes previously collected on vehicles that cannot exceed 35 mph

Maintains existing tax structure for standard electric and hybrid vehicles, including annual inflation adjustments based on Consumer Price Index

Effective date of July 1, 2023