Bill > H4004

This bill establishes an income tax credit for eligible taxpayers who purchase zero-emission or hybrid mobile machinery, as well as associated storage infrastructure, for use in their business or for rental/leasing to the public. The credit amounts to 30% of the purchase price (up to $7,500 or $15,000 depending on the vehicle weight) for zero-emission machinery, 25% (up to the same limits) for hybrid machinery, and 30% of the cost (up to $50,000 per unit) for associated storage infrastructure. The total credit claimed in a year cannot exceed the state income tax owed, but any excess can be carried forward to future years.