Read 1st time April 12, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To amend chapter 301, RSMo, relating to alternative fuel motor vehicles by adding thereto one new section relating to the same subject.
Section A. Chapter 301, RSMo, is amended by adding thereto one new section, to be known as section 301.725, to read as follows:
301.725. 1. As used in this section, the following terms mean:
(1) "Alternative fuel", as defined in 42 U.S.C. 13211;
(2) "Qualified alternative-fueled motor vehicle", a motor vehicle that operates on an alternative fuel, meets or exceeds the clean fuel vehicle standards in the federal clean air act amendments of 1990, Title II and qualifies as one of the following:
(a) "Bi-fuel motor vehicle", a motor vehicle with two separate fuel systems designed to run on either an alternative fuel or conventional fuel, using only one fuel at a time;
(b) "Dedicated motor vehicle", a motor vehicle with an engine designed to operate on a single alternative fuel only; or
(c) "Flexible fuel motor vehicle", a motor vehicle that may operate on a blend of an alternative fuel with a conventional fuel, such as E-85 (85% ethanol and 15% gasoline) or M-85 (85% methanol and 15% gasoline), as long as such motor vehicle is capable of operating on at least an 85% alternative fuel blend;
(3) "Qualified alternative-fuel fueling station", the property which is directly related to the delivery of alternative fuel into the fuel tank of a motor vehicle propelled by such fuel, including the compression equipment, storage vessels and dispensers for such fuel at the point where such fuel is delivered but only if such property is primarily used to deliver such fuel for use in a qualified alternative-fueled motor vehicle;
(4) "Incremental cost", the cost that results from subtracting the manufacturer's list price of the motor vehicle operating on conventional gasoline or diesel fuel from the manufacturer's list price of the same model motor vehicle designed to operate on an alternative fuel;
(5) "Conversion cost", the cost that results from modifying a motor vehicle which is propelled by gasoline or diesel to be propelled by an alternative fuel.
2. For all tax years beginning on or after January 1, 2001, but before December 31, 2005, a taxpayer who purchases or leases a qualified alternative fuel motor vehicle for use in this state or converts a motor vehicle to a qualified alternative fuel motor vehicle shall be allowed a nonrefundable credit against the tax otherwise due pursuant to chapter 143, RSMo, excluding sections 143.191 to 143.265, RSMo, in an amount equal to the lesser of forty percent of the incremental cost or the conversion cost for each qualified alternative-fueled motor vehicle or two thousand four hundred dollars for each such vehicle having a gross weight of less than ten thousand pounds, four thousand dollars for each such vehicle having a gross weight between ten thousand and twenty-six thousand pounds and forty thousand dollars for each such vehicle having a gross weight in excess of twenty-six thousand pounds. The balance of any unused tax credit may be carried forward to the taxpayer's next three tax years only if the taxpayer maintains a current registration and license on each alternative fuel vehicle for each tax year which such taxpayer carries the unused balance of the credit forward.
3. For all tax years beginning on or after January 1, 2001, but before December 31, 2005, a taxpayer who places
into service a qualified alternative-fuel fueling station shall be allowed a nonrefundable credit against the tax
otherwise due pursuant to chapter 143, RSMo, excluding sections 143.191 to 143.265, RSMo, in an amount equal to
the lesser of forty percent of the amount expended for each qualified alternative-fuel fueling station or one hundred
sixty thousand dollars, provided that the taxpayer submits proof of all expenditures to the department of revenue.
The balance of any unused tax credit may be carried forward to the taxpayer's next three tax years only if the
taxpayer's qualified alternative-fuel fueling station operates continuously for the purpose for which it was placed
into service throughout the entire three-year period during which such taxpayer carries the unused balance of the
credit forward.
Missouri
House of Representatives