House to vote on alternative-fuel vehicle tax creditApr 11 - Charleston Daily Mail (WV)
State residents hoping to use a $7,500 tax credit to buy a plug- in hybrid car or some other types of alternatively fueled vehicles have until Monday to do so, under legislation advancing in the House of Delegates. The House is set to vote on the bill Saturday. The measure was proposed earlier this year by Gov. Earl Ray Tomblin. It limits the tax credit the state offers for alternatively fueled vehicles. For the last two years, the state has offered a tax credit to residents who buy plug-in electric or hybrid cars, or those fueled by natural gas, propane, butane or 15-percent ethanol fuel blends. The credit covers 35 percent of the cost of the vehicle, up to $7,500 for cars and $25,000 for large trucks. Facing a tight budget outlook, Tomblin proposed limiting the credit to just those cars and trucks running on natural gas, butane and propane. The bill would also roll back tax credits for building alternative fuel infrastructure. The governor's office said the proposal would save the state money while continuing to promote its growing natural gas industry. As proposed, Tomblin's plan would have gone into effect Jan. 1 of this year, meaning individuals who had already bought vehicles this year expecting to get the credit would not be eligible come tax time. However, the Senate Finance Committee amended the bill, making the changes effective April 15. The modified version of the bill is expected to save the state $6 million this year. The bill passed the Senate last week and was approved by the House Finance Committee Wednesday morning on a unanimous voice vote. The bill will be up for a first reading in the House Thursday morning, setting up a final vote on the bill this Saturday. Meanwhile, Mountaineer Gas Co. on Wednesday asked the state Public Service Commission to approve a rate schedule that would allow the company to begin providing fuel to natural gas vehicles. In addition to proposing pricing and other terms and conditions for setting up filling stations, Mountaineer Gas has asked the commission to allow the company to offer a $1,000 credit to each new fueling station account. The credit is designed to help offset the cost of installing natural gas fueling equipment. "Mountaineer Gas Company hopes to support the development of the NGV fleet in West Virginia," company president Tom Taylor said in the filing. "The action today is a first step to make low cost natural gas available for use as a transportation fuel," he said. According to the gas company's proposal, both home and commercial fueling units would be eligible for the credit. Contact writer Jared Hunt at business@dailymail.com or 304-348- 4836. http://www.energycentral.com/functional/news/news_detail.cfm?did=28220353 |