Maryland EV Tax Credit Extended Three Years

photo: Executive Office of the Governor

The Maryland Clean Cars Act of 2017 (SB 393/HB 406) was signed into law by Governor Larry Hogan on May 4, 2017. This will extend the Electric Vehicle Tax Credit program through fiscal year 2020.

The Electric Vehicle Tax Credit yearly funding will increase by over 30 percent. The EV Tax Credit will now be $100 per kWh of vehicle battery capacity, (was $125) and the maximum tax credit per vehicle will remain $3,000. Vehicles with a sales price over $60,000 will not qualify for the tax credit. The new legislation also modifies the EV Charging Station rebate. The rebate for installed residential equipment will be 40 percent of the cost, with a $700 maximum, and the commercial rebate will be 40 percent of the installed cost with a $4,000 maximum rebate.

The EV Tax Credit will only apply for vehicles purchased on or after July 1, 2017 and is subject to funds availability.

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