HB 1753 -- Income Tax Credits for Alternative Fuel Facilities

Sponsor:  Munzlinger

This bill authorizes an income tax credit for any eligible
applicant who installs and operates an alternative fuel vehicle
refueling facility.  For tax years beginning January 1, 2007,
through December 31, 2009, an eligible applicant may apply to the
Department of Natural Resources for a tax credit equal to the
lesser of $20,000 or 20% of the total cost of the purchase and
installation of alternative fuel storage and dispensing
equipment.

The tax credit is to be claimed in the tax year in which it was
issued, and the balance may be carried forward two subsequent tax
years.  The tax credit may be assigned, transferred, sold, or
otherwise conveyed.

The amount of tax credits authorized in taxable year 2007 will be
$3 million, $2 million in 2008, and $1 million in 2009.  If the
tax credit amount authorized for a taxable year is not sufficient
to cover the total qualified applications, the credits will be
prorated among the qualified applicants.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:44 am