HCS HB 1326 -- INCOME TAX DEDUCTION FOR HYBRID VEHICLES

SPONSOR:  Bivins (Sater)

COMMITTEE ACTION:  Voted "do pass" by the Special Committee on
Energy and Environment by a vote of 9 to 2.

This substitute authorizes an individual income tax deduction,
for tax years beginning on or after January 1, 2008, for a
qualified hybrid vehicle that is powered by a combination of an
electric motor and gasoline engine.  The deduction is limited to
the lesser of 10% of the vehicle's purchase price or $2,000.

The provisions of the substitute will expire December 31 six
years from the effective date.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of $501,891
in FY 2009, $640,726 in FY 2010, and $841,031 in FY 2011.  No
impact on Other State Funds in FY 2009, FY 2010, and FY 2011.

PROPONENTS:  Supporters say that the bill will encourage job
growth in Missouri, reduce dependence on foreign oil, and help
protect the environment.

Testifying for the bill were Representative Sater; Irl Scissors,
Missouri Conservation and Environmental Alliance; and Sierra
Club.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:10 pm