Bill > S2694

This bill aims to promote fair tax treatment for zero-emission vehicles (ZEVs) by modifying how their value is calculated for excise tax and sales tax purposes. Specifically, for ZEVs in vehicle classes 3 through 8 (which typically include medium and heavy-duty trucks) purchased before January 1, 2035, the list price or sales price will be considered the lesser of either the actual price of the vehicle or the median price of comparable internal combustion engine vehicles in the same class, type, and year of manufacture. The bill is designed to reduce the tax burden on ZEVs by ensuring they are not taxed at a higher rate due to potentially higher initial purchase prices. The commissioner of revenue will determine the median price of comparable internal combustion engine vehicles, which will serve as a price benchmark for tax calculations. By providing this tax relief, the bill seeks to incentivize the adoption of zero-emission vehicles and support the transition to more environmentally friendly transportation options.

Budget and Finance

https://malegislature.gov/Bills/194/S2694