Maryland Governor Larry Hogan announced his plan to introduce the Clean Cars Act of 2017. The Governor’s proposed legislation will increase the investment in the Electric Vehicle Excise Tax Credit program by over 30 percent and double the funds available for the Charging Station Rebate program.
In addition to increasing the state’s investment, other changes have been proposed in an effort to avoid running out of funds before the end of the incentive program’s time period. The previous Excise Tax Credit for Plug-in Electric Vehicles was due to end on June 30, 2017, however, funds were depleted by September, 2016.
Under the proposed Clean Cars Act of 2017:
- $2.4 million will be allocated for Excise Tax Credit for Plug-in Electric Vehicles
- $1.2 million for Income Tax Credit for Electric Vehicle Service Equipment (EVSE)
- $100 credit per kilowatt hour (kWh) of capacity, down from $125
- $60,000 vehicle sales price cap to be eligible for the Excise Tax Credit
- Retroactive to vehicle purchases since the previous program expired
The final details are up to the legislature and are subject to change.
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