State Hybrid Income Tax Deduction (bill): H.B. 1092 authorizes an individual income tax deduction, for tax years beginning on or after January 1, 2006, for a qualified hybrid vehicle that is powered by a combination of an electric motor and gasoline engine. The deduction is limited to the lessor of 10% of the purchase price of the vehicle or $1,500. The provisions of the bill will expire six years from the effective date. Referred to Special Committee on Energy and the Environment 1/19/06.
Alternative Fuel and Alternative Fuel Vehicle Rebates (bill): HB 798 would establish rebates for hybrid and alternative fuel vehicles. For vehicles weighing less than 8,500 lb gross weight, buyers are eligible for up to ten percent of the incremental cost for a hybrid vehicle, with a maximum of five hundred dollars per vehicle or if the hybrid has no comparable conventional model on which to base the incremental cost calculations, up to ten percent of the total purchase price with a maximum of one thousand dollars per vehicle. For vehicles weighing more than 8,500 lbs gross weight, buyers are eligible for up to fifty percent of the incremental cost for a bi-fuel, flex-fuel, or hybrid vehicle, with a maximum of ten thousand dollars per vehicle or if the hybrid has no comparable conventional model on which to base the incremental cost calculations, up to ten percent of the total purchase price with a maximum of ten thousand per vehicle. Public hearing held 04/14/2005, in Agriculture Committee.