Senate Bill 2990

AN ACT TO AUTHORIZE A TAX CREDIT FOR TAXPAYERS WHO PLACE A QUALIFIED ALTERNATIVE-FUEL FUELING STATION IN SERVICE DURING CALENDAR YEAR 2020 OR 2021; TO DEFINE TERMS; TO ALLOW THE CREDIT TO BE APPLIED AGAINST INCOME TAXES, PREMIUM AND RELATED RETALIATORY TAXES, OR FRANCHISE TAXES; TO PROVIDE THAT THE CREDIT SHALL BE EQUAL TO 75% OF THE COST OF ANY QUALIFIED ALTERNATIVE-FUEL FUELING STATION PLACED IN SERVICE DURING CALENDAR YEAR 2020 OR 2021; TO PROVIDE THAT TAXPAYERS SHALL SUBMIT APPLICATIONS FOR THE CREDIT TO THE DEPARTMENT OF REVENUE; TO IMPOSE AN AGGREGATE CAP FOR THE CREDITS OF $12.5 MILLION ANNUALLY, FOR A CUMULATIVE CAP OF $25 MILLION OVER THE TWO-YEAR PERIOD IN WHICH APPLICATIONS FOR THE CREDIT MAY BE MADE; TO PROVIDE THAT THE CREDITS SHALL BE NONREFUNDABLE AND NONTRANSFERABLE; TO ALLOW UNUSED CREDITS TO BE CARRIED FORWARD FOR UP TO FIVE YEARS; TO REQUIRE ANY TAXPAYER CLAIMING THIS CREDIT TO SUBMIT AN ANNUAL REPORT TO THE DEPARTMENT OF ENVIRONMENTAL QUALITY; TO ALLOW THE DEPARTMENT OF REVENUE TO ADOPT AND PROMULGATE RULES AND REGULATIONS TO IMPLEMENT THE CREDIT; AND FOR RELATED PURPOSES.

In the Senate

• Josh Harkins

  Sponsor

l9n doesn't hold this bill's text yet.

In the Senate May 12 – Jun 3

1. May 12Referred to the Senate committee on Finance
2. Jun 2Reported from committee in the Senate: title sufficient, do pass as a committee substitute
3. Jun 3Died on the calendar in the Senate