An Act To Promote Plug-in Electric Vehicle Sales
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §5219-FF is enacted to read:
§ 5219-FF. Plug-in electric vehicle tax credit
1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Qualified plug-in electric vehicle" means a motor vehicle with 4 wheels that is primarily propelled by an electric motor that draws electricity from a battery that has a capacity of not less than 4 kilowatt hours and is capable of being recharged from an external source of electricity.
2. Credit allowed. A taxpayer is allowed a credit against the tax imposed by this Part in an amount equal to the excise tax paid pursuant to chapter 111 on a qualified plug-in electric vehicle, not to exceed $1,000.
3. Qualifications. A taxpayer may claim the credit allowed by this section during a tax year in which the taxpayer purchased a qualified plug-in electric vehicle that is:
A. Manufactured for use on public streets, roads and highways and has not been modified from the original manufacturer specifications;
B. Acquired for use or lease by the taxpayer and not for resale;
C. Rated at not more than 8,500 pounds unloaded gross vehicle weight;
D. Capable of reaching a speed of at least 65 miles per hour; and
E. Acquired on or after January 1, 2011, but before December 31, 2014.
4. Limitations. The credit under this section may not reduce the tax otherwise due under this Part to less than zero.
5. Application. This section applies to tax years beginning on or after January 1, 2011 and does not apply to tax years beginning on or after January 1, 2015.
6. Repeal. This subsection is repealed January 1, 2015.
summary
This bill creates an income tax credit for the purchase of a qualified plug-in electric vehicle that is equal to the excise tax paid, up to $1,000. The credit expires January 1, 2015.