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OH HB336
Bill
Status
3/26/2014
Primary Sponsor
Sean O'Brien
Click for details
AI Summary
HB 336 Summary
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Creates the Gaseous Fuel Vehicle Conversion Program administered by the Director of Environmental Protection to provide grants up to $500,000 per entity for converting vehicles to operate on compressed natural gas, liquefied natural gas, or liquid petroleum gas.
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Establishes nonrefundable income tax credits for taxpayers purchasing new alternative fuel vehicles or converting existing vehicles, with credit amounts ranging from $5,000 to $25,000 depending on vehicle gross vehicle rating.
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Reduces sales tax by up to $500 on purchases or leases of qualifying plug-in electric drive vehicles, limited to one vehicle per individual per calendar year or ten vehicles per business per calendar year.
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Applies motor fuel tax to compressed natural gas and provides a temporary partial tax exemption at 7 cents per gallon equivalent for the first 36 months and 14 cents per gallon equivalent for months 37-60 after the effective date.
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Appropriates $16,000,000 for fiscal years 2014 and 2015 to fund the Gaseous Fuel Vehicle Conversion Program, with intent to appropriate an additional $16,000,000 annually through fiscal year 2019.
Legislative Description
To create the Gaseous Fuel Vehicle Conversion Program, to allow a credit against the income or commercial activity tax for the purchase or conversion of an alternative fuel vehicle, to reduce the amount of sales tax due on the purchase or lease of a qualifying electric vehicle by up to $500, to apply the motor fuel tax to the distribution or sale of compressed natural gas, to authorize a temporary, partial motor fuel tax exemption for sales of compressed natural gas used as motor fuel, and to make an appropriation.
Gaseous Fuel Vehicle Conversion Program- encourage use of alternative fuels
Last Action
To Finance
3/27/2014