Bill > H2388

This bill establishes an excise tax credit to encourage the use of alternative fuel heavy-duty and medium-duty vehicles in Massachusetts. The bill defines key terms such as "alternative fuel," "alternative fuel heavy-duty vehicle," and "alternative fuel medium-duty vehicle." Taxpayers can receive a tax credit of up to $20,000 for purchasing an alternative fuel heavy-duty vehicle and up to $12,000 for purchasing an alternative fuel medium-duty vehicle. The total tax credit for a taxpayer or affiliated entity is capped at the lesser of their income tax liability or $250,000 per year, and any unused portion of the credit can be carried forward to future years but not applied retroactively. The bill also authorizes the commissioner to promulgate rules and regulations necessary to implement and administer the provisions of this section.

Budget and Finance

https://malegislature.gov/Bills/191/H2388