Summary of the Introduced Bill

HB 347 -- Alternative Fuel Tax Credit

Sponsor:  Munzlinger

This bill authorizes a tax credit for any eligible applicant who
installs and operates an alternative fuel vehicle refueling
facility.  For tax years beginning January 1, 2008, through
December 31, 2010, an eligible applicant may apply to the
Department of Natural Resources for a tax credit equal to the
lesser of $20,000 or 20% of the total cost of the purchase and
installation of alternative fuel storage and dispensing

The tax credit is to be claimed in the tax year in which it was
issued, and the balance may be carried forward two subsequent tax
years.  The tax credit may be assigned, transferred, sold, or
otherwise conveyed.

The amount of tax credits authorized in taxable year 2008 will be
$3 million, $2 million in 2009, and $1 million in 2010.  If the
tax credit amount authorized for a taxable year is not sufficient
to cover the total qualified applications, the credits will be
prorated among the qualified applicants.

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Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am