HB542 - Income tax; allow credit for investments in qualified clean-burning motor vehicle fuel property.

3 Co-Sponsors

An Act To Provide An Income Tax Credit For A Percentage Of The Cost Of Installing New Alternative Fueling Infrastructure For Certain Alternative Fuels; To Provide An Income Tax Credit For A Percentage Of The Cost Of Installing A Residential Compressed Natural Gas Fueling System; To Define Certain Terms Used In This Act; To Prescribe The Maximum Amount Of The One-time Credit, Based On The Type Of Qualified Clean-burning Motor Vehicle Fuel Property, Which May Be Claimed In A Taxable Year; To Provide That Any Unused Portion Of The Credit May Be Carried Forward For The Succeeding Five Tax Years; And For Related Purposes.