HB322 Alabama 2013 Session

This bill would encourage the use of motor vehicles powered by compressed natural gas, liquefied natural gas, propane, hybrid technology, and electricity by providing tax credits for the acquisition of such vehicles, or the modification of motor vehicles to utilize such fuel and power sources, and for the installation of refueling equipment for such vehicles

To provide for an income tax credit of no more than $1,500 for certain alternative fuel alternative technology vehicles, limited to 5,000 vehicles per fuel and technology type; to allow an income tax credit for placing in service refueling equipment for certain alternative fuel vehicles, limited to the lower of 30 percent of the cost of such equipment, or dollar limits based on the type of fuel; to provide that, as to both income tax credits, unused credits could be carried forward for five years; to provide that both credits would expire five years after the effective date of the provisions.