Latest Update: Maryland EV Tax Credit Status as of June, 2020
The Clean Cars Act of 2020 proposes to increase the funding for the Maryland electric vehicle excise tax credit. Annual funding would increase from $6,000,000 to $12,000,000 through fiscal year 2023 under the proposal by Governor Larry Hogan.
Governor Hogan Wants to Double Funding to $12 Million Annually
Under the proposal, the Maryland Department of Transportation will not approve tax credits after the $12 million allocated for each fiscal year runs out. Applicants will then be put on a waiting list the same as they have done previously.
Maryland Clean Cars Act
Under the proposed Clean Cars Act of 2020:
- Applies to plug-in and fuel cell electric vehicles
- $12 million allocated for each fiscal year 2021, 2022 & 2023
- $3,000 flat credit for each vehicle purchased
- $63,000 purchase price cap on plug-in electrics
- No price cap on fuel cell vehicles
- Battery capacity must be at least 5.0 kilowatt-hours
- Will apply only to new vehicles purchased on or after July 1, 2017
- $1.8 million for rebates for Electric Vehicle Service Equipment (EVSE)
The final details are subject to change as amendments may be added.
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