North Carolina Hybrid vehicle purchase Tax Incentives

Alternative Fuel Vehicle Tax Credit (bill): S.B. 1015 and H.B. 1766 would establish a tax credit for alternative vehicles. A taxpayer that purchases or leases a new alternative fuel vehicle or a hybrid electric vehicle would be allowed a credit in the amount of $2,000.00. In order to be eligible for the credit allowed by this section, the vehicle must have a gross vehicle weight of less than 10,000 pounds and must be registered in this State. The credit that would be allowed under this section is allowed only to the first individual to take title to the motor vehicle other than for resale. Introduced on 3/23/05-- referred to Senate Finance Committee on 3/24/05 and House Finance Committee 5/12/05.
Mobile Source Emissions Reduction Program (bill): S.B. 1038 would establish this program that provides grants efforts that reduce mobile emissions such as alternative fueled vehicles, hybrid electric vehicles, truck stop electrification, and installation of oxidation catalysts and particulate matter traps on diesel vehicles. These grants will be funded by a surcharge on registration fees of motor vehicles that undergo emission testing. The surcharge will be determined by the amount of emissions the motor vehicle emits: more emission, the larger the tax. H.B. 1595 would establish a similar mobile source emissions reduction program funded by a surcharge on vehicle registration based on the EPA Green Vehicles Ratings Guide. Sent to Senate Agriculture/Environment/Natural Resources Committee on 3/24/05. Referred to House Finance Committee 5/5/05.
Advanced Vehicles Research Center Tax Credit (bill): S.B. 684 and H.B. 625 would establish a facility primarily used to conduct transportation research, development, and testing on vehicles utilizing advanced technologies, including hybrid and multifuel systems, hydrogen and fuel cells, and nonfossil fuel technology. A taxpayer that contributes cash or property to an advanced vehicle research entity for construction or operation of an advanced vehicle research center that is located in an enterprise tier one area at the time of the contribution is allowed a credit equal to the value of the contribution. Referred to Senate Finance Committee on 3/21/05 and House Finance Committee on 3/14/05.


No comments for 'North Carolina Hybrid vehicle purchase Tax Incentives'

Post new comment

The content of this field is kept private and will not be shown publicly.