House gives approval to alternative fuel tax credit
With the continued development of alternative-fuel vehicles, the days of the gas-only filling stations may be numbered.
With that in mind, members of the Missouri House Thursday by a 91-54 vote passed legislation that would revive a tax credit aimed at developing more locations where non-gasoline or diesel burning vehicles can fill up.
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, natural gas, hydrogen, biodiesel and biodiesel blends, and electric recharging stations.
The bill caps the total tax credit program at $1 million.
“We’re not out here to give a huge tax advantage to one industry,” said McGaugh during floor debate. “We just feel that this is a worthy effort to make things easier with the development of these technologies.”
During debate in the House floor Wednesday, the bill took on four amendments, three of which made changes to the program outlined in the bill. The amendments would:
Mandate a review of the tax credit program after three years.
Allow a private citizen to collect up to a $1500 credit for the installation of an alternative fuel vehicle refueling station on their own property. (Mostly for the use of electric vehicles.)
Move the administration of the tax credit program from the Department of Natural Resources to the Department of Economic Development.
Associated Industries of Missouri supports the legislation.
“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 AIM president Ray McCarty. “The incentives will also help the environment by encouraging the use of alternative sources of fuel that have lower emissions.”