AIM supports alternative fuel vehicle refueling tax credit
Associated Industries of Missouri president Ray McCarty this week spoke in support of a bill that would reinstate the tax credit for alternative fuel refueling stations.
House Bill 1610, sponsored by Rep. Joe Don McGaugh (R-Carrollton), would provide tax credits for retailers who install alternative fuel fueling devices for substances such as ethanol, propane, natural gas, hydrogen, biodiesel and biodiesel blends, and electric recharging stations.
With the growing number of alternative fuel vehicles on the road now and in development for the future, AIM believes that incentives are needed to make the refueling devices, and retailers with the devices, more numerous.
“We believe this tax credit will help provide an incentive to increase refueling stations , making the use of alternative fuel vehicles more attractive to consumers,” said McCarty during testimony before the House Agriculture Policy Committee. “The incentives will also help the environment by encouraging the use of alternative sources of fuel that have lower emissions.”