Bill > S2092

This bill proposes a change in how motor vehicle excise taxes are calculated for electric motor vehicles. Specifically, the legislation mandates that any state and federal rebates available for electric vehicles must be applied to reduce the vehicle's Manufacturer's Suggested Retail Price (MSRP) when calculating the excise tax. In other words, when determining the tax amount for an electric vehicle, the rebate amounts would be subtracted from the original MSRP, which would result in a lower taxable value and potentially reduce the overall excise tax burden for electric vehicle owners. This approach aims to make electric vehicles more financially attractive by lowering the tax liability at the time of purchase or registration, potentially encouraging more consumers to choose electric vehicles by reducing their effective cost.

Budget and Finance

https://malegislature.gov/Bills/194/S2092