Bill > HB1008

This bill modifies the existing law regarding retail sales and use tax credits for electric vehicles purchased in other states. Previously, a taxpayer could receive a credit for sales tax paid in another state on an electric vehicle, but only for the actual tax amount paid. This bill expands that credit, allowing a taxpayer to receive a credit equal to any tax *exemption* they received from the state where they purchased the electric vehicle, provided they were a resident of that state at the time of purchase and the purchase occurred within the past 12 months. An "electric vehicle" is defined as a motor vehicle that runs entirely on electricity stored in a battery with a capacity of at least 25 kilowatt-hours, a range of at least 100 miles, and the ability to be recharged from an external source. This change aims to provide a more equitable credit for electric vehicle purchases made out-of-state, acknowledging tax incentives offered by other jurisdictions.

Budget and Finance

https://lis.virginia.gov/bill-details/20261/HB1008