Bill > HB214

This bill introduces a state income tax credit for investments in clean-burning motor vehicle fuel property in Mississippi, designed to incentivize the adoption of alternative fuel technologies. The bill defines "qualified clean-burning motor vehicle fuel property" as equipment that modifies vehicles to run on alternative fuels like compressed natural gas, liquefied natural gas, or propane, or new vehicles already equipped for such fuels, as well as infrastructure for delivering these fuels or electric vehicle charging systems. The tax credit varies depending on the type of property: 50% for vehicle modification equipment, 75% for commercial fuel delivery infrastructure, and up to $2,500 for residential compressed natural gas fueling systems. Taxpayers can claim the credit in the year of investment, and if the credit exceeds their tax liability, they can carry forward the unused portion for up to five subsequent tax years. The bill also includes provisions that if a married couple files separate returns, they can each claim half of the credit they would have received on a joint return. The tax credit will take effect on January 1, 2025, and the Department of Revenue is authorized to establish rules for administering the program, including potential penalties for violations.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0214.xml