An Act To Create an Electric Vehicle Tax Credit
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §5219-VV is enacted to read:
§ 5219-VV. Electric motor vehicle credit
1. Credit allowed. An individual who receives a credit during the tax year under the Code, Section 30D for the purchase of a qualifying vehicle is allowed a credit as provided in this section.
2. Qualifying vehicle defined. For the purposes of this section, "qualifying vehicle" means a plug-in electric-drive motor vehicle eligible for a credit under the Code, Section 30D and purchased for $50,000 or less from a motor vehicle dealer located in the State.
3. Calculation of credit. The credit under this section is equal to $300 plus $50 for each kilowatt-hour of capacity of the motor vehicle battery in excess of 5 kilowatt-hours up to a maximum credit of $1,500.
Sec. 2. Application. This Act applies to tax years beginning on or after January 1, 2020.
summary
This bill provides an income tax credit for the purchase of a new plug-in electric-drive motor vehicle that is eligible for a federal income tax credit. The credit is $300 plus $50 for each kilowatt-hour of battery capacity in excess of 5 kilowatt-hours up to a maximum credit of $1,500.