Electric vehicle; establishes tax credit on purchase or lease price. (HB469)

Introduced By

Del. David Reid (D-Loudoun) with support from co-patron Del. Patrick Hope (D-Arlington)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Electric vehicle tax credit. Establishes for taxable years beginning on and after January 1, 2018, a tax credit in the amount of 10 percent of the purchase or lease price of an electric vehicle. The bill defines "electric vehicle" and provides that the credit is nonrefundable, may be carried forward for three years, and shall not exceed $3,500 per taxpayer. The bill requires the Department of Taxation to cease issuing tax credits for electric vehicles when 20 percent of vehicles registered in Virginia are electric or in taxable year 2023, whichever is sooner. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/07/2018Committee
01/07/2018Prefiled and ordered printed; offered 01/10/18 18103418D
01/07/2018Referred to Committee on Finance
01/26/2018Impact statement from TAX (HB469)
02/01/2018Assigned Finance sub: Subcommittee #3
02/02/2018Subcommittee recommends passing by indefinitely (5-Y 3-N)
02/13/2018Left in Finance