Summary of the Introduced Bill

HB 505 -- Alternative Fuels

Sponsor:  Bivins

This bill changes the laws regarding alternative fuels.  In its
main provisions, the bill:

(1)  Authorizes an income tax credit for owners of alternative
fuel vehicle refueling facilities who convert an existing gas
pump to a pump used for dispensing alternative fuels.  For tax
years beginning January 1, 2008, but before January 1, 2011, an
eligible applicant may apply to the Department of Natural
Resources for a tax credit of up to $2,000 for the cost of the
conversion.  The maximum amount of tax credits authorized in 2008
will be $2 million, $1.5 million in 2009, and $1 million in 2010.
If the tax credit amount authorized for a taxable year is not
sufficient to cover the qualified applications, the credits will
be prorated among the qualified applicants;

(2)  Lowers the tax on E85 fuel from 17 cents per gallon to 13
cents per gallon; and

(3)  Prohibits the use of franchise agreements that restrict fuel
franchisees from purchasing, selling, or distributing alternative

Copyright (c) Missouri House of Representatives

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am