H1059B3613A05878 PWK:AAS 10/26/22 #90 A05878
AMENDMENTS TO HOUSE BILL NO. 1059
Sponsor: SENATOR MUTH
Printer's No. 3613
Amend Bill, page 1, line 14, by inserting after
"NONCOMPLIANCE;"
providing for Alternative Fuel Vehicle Tax Credit; promulgating
regulations;
Amend Bill, page 48, by inserting between lines 12 and 13
Section 17. The act is amended by adding an article to read:
ARTICLE XVII-M
ALTERNATIVE FUEL VEHICLE TAX CREDIT
Section 1701-M. Scope of article.
This article provides for an alternative fuel vehicle tax
credit for taxpayers who purchase alternative fuel vehicles.
Section 1702-M. Definitions.
The following words and phrases when used in this article
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Alternative fuel vehicle." As defined under section 2 of
the act of November 29, 2004 (P.L.1376, No.178), known as the
Alternative Fuels Incentive Act.
"Alternative fuels." As defined under section 2 of the
Alternative Fuels Incentive Act.
"Bi-fuel vehicle" or "dual-fuel vehicle." As defined under
section 2 of the Alternative Fuels Incentive Act.
"Biodiesel fuel." As defined under section 2 of the
Alternative Fuels Incentive Act.
"Credit." A tax credit authorized under this article.
"Dedicated vehicle." As defined under section 2 of the
Alternative Fuels Incentive Act.
"Department." The Department of Revenue of the Commonwealth.
"Diesel fuel." As defined under section 2 of the Alternative
Fuels Incentive Act.
"Electric vehicle." A motor vehicle which operates solely by
use of a battery or battery pack and which meets the applicable
Federal motor vehicle safety standards. The term includes a
motor vehicle which is powered mainly through the use of an
electric battery or battery pack but which uses a flywheel that
stores energy produced by the electric motor or through
regenerative braking to assist in operation of the motor
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vehicle.
"Gasoline." As defined under section 2 of the Alternative
Fuels Incentive Act.
"Hybrid vehicle." As defined under section 2 of the
Alternative Fuels Incentive Act.
"Taxpayer." An entity or individual subject to a tax under
Article IV, VI, VII, VIII, IX or XV.
Section 1703-M. Amount of credit.
A taxpayer shall receive a credit for the applicable taxable
year in an amount up to $5,000 for the purchase of an
alternative fuel vehicle.
Section 1704-M. Carryover, carryback, refund and assignment of
credit.
(a) General rule.--If a taxpayer cannot use the entire
amount of the credit for the taxable year in which the credit is
first claimed, the excess may be carried over to succeeding
taxable years and used as a credit against the qualified tax
liability of the taxpayer for those taxable years. Each time
that the credit is carried over to a succeeding year, it shall
be reduced by the amount that was used as a credit during the
immediately preceding taxable year. The credit may be carried
over and applied to succeeding taxable years for no more than 15
taxable years following the first taxable year for which the
taxpayer was entitled to claim the credit.
(b) Application of credit.--Any credit shall first be
applied against the taxpayer's qualified tax liability for the
taxable year in which the credit was approved before the credit
is applied against any succeeding tax liability under subsection
(a).
(c) Limitations.--A taxpayer is not entitled to carry back
or obtain a refund of an unused credit.
Section 1705-M. Limitation.
For each fiscal year, not more than $500,000,000 in credits
shall be made available to the department and may be awarded by
the department in accordance with this article.
Section 1706-M. Regulations.
The department shall promulgate regulations necessary for the
implementation and administration of this article.
Section 1707-M. Expiration.
This article shall expire December 31, 2027, or upon the
repeal of the act of November 30, 2004 (P.L.1672, No.213), known
as the Alternative Energy Portfolio Standards Act, whichever
occurs first.
Amend Bill, page 48, line 13, by striking out "17" and
inserting
18
Amend Bill, page 48, line 17, by striking out "18" and
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inserting
19
Amend Bill, page 48, line 21, by striking out "17" and
inserting
18
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