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Bill

S 3803

Provides a tax credit for the purchase or conversion of an electric vessel or zero emission vessel and provides a tax credit for electric vessel recharging property

2025 Regular Session Introduced by Kevin Parker

Provides tax credits to purchase or convert vessels to electric or zero-emission propulsion and to install charging infrastructure, lowering costs and spurring adoption.

REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
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Bill Summary · S 3803

Summary of Bill S 3803 (2025)

Overview

Bill S 3803 proposes new tax credits to encourage the adoption of electric and zero-emission vessels, as well as the installation of recharging infrastructure for electric vessels. The bill was introduced on January 30, 2025 and has been referred to the Investigations and Government Operations committee for consideration.

Purpose and Intent

  • Promote clean maritime transportation by providing financial incentives for purchasing or converting vessels to electric or zero-emission propulsion.
  • Support the development and expansion of electric vessel recharging infrastructure through a separate tax credit for recharging properties.

Key Provisions (as described)

  • Tax Credit for Vessel Purchase or Conversion: Establishes a credit for individuals or entities purchasing new electric vessels or converting existing vessels to electric/zero-emission propulsion.
  • Tax Credit for Recharging Property: Establishes a credit for the installation or improvement of recharging infrastructure related to electric vessels.

Note: Specific details such as credit amounts, eligibility criteria, expiration dates, cap amounts, and application procedures would be defined in the full text of the bill.

Eligibility and Beneficiaries

  • Potential beneficiaries include vessel buyers or converters (owners/operators) and property owners who install electric vessel recharging facilities.
  • The precise eligibility requirements, limitations, and whether credits can be claimed by businesses, individuals, or both, would be set forth in the bill and any implementing regulations.

Affected Parties and Potential Impacts

  • Affected Parties: Vessel owners, operators, builders or converters of electric/zero-emission vessels, and property owners or developers of charging infrastructure.
  • Potential Impacts: Financial incentives to reduce upfront costs, stimulate market demand for electric vessels and charging stations, and advance environmental goals. Fiscal impact would depend on credit amounts and uptake.

Procedural and Timeline Aspects

  • Status: Referred to Investigations and Government Operations (no further action listed in the provided information).
  • Next steps: If advanced, the bill would likely move through committee hearings, potential amendments, and floor consideration. Details such as effective dates and sunset provisions would be clarified in the bill text.

Related Legislation

  • S 9503 (prior-session)
  • S 5760 (prior-session)

Notes

This summary reflects the information available publicly for S 3803. For a complete understanding, the full bill text is needed to confirm definitions, credit amounts, eligibility criteria, duration, and administration mechanisms.

Compiled from official sources — confirm details with the bill’s official record.

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