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HB 801 - Income tax credits; low-emission vehicles; cert electric chargers

Scheid, III, Charles F (17th)	Stancil, Steve (16th)	Pinholster, Garland (15th)

Status Summary	HC:	W&M	SC:		FR:	03/01/99	LA:	02/22/00	H - Favorably Reported (Sub)

First Reader Summary

A BILL to amend Code Section 48-7-40.16 of the Official Code of Georgia Annotated, relating to the income tax credits for certain low-emission vehicles, so as to increase the amount of such credits; to increase the carry forward periods of such credits; to provide for an additional credit with respect to certain electric vehicle chargers; and for other purposes.

HB 801                                            LC 18 0251S 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Code Section 48-7-40.16 of the Official Code of 
  1- 2  Georgia Annotated, relating to the income tax credits for 
  1- 3  certain low-emission vehicles, so as to increase the amount 
  1- 4  of such credits; to increase the carry forward periods of 
  1- 5  such credits; to provide for an additional credit with 
  1- 6  respect to certain electric vehicle chargers; to provide for 
  1- 7  conditions and limitations; to provide for powers, duties, 
  1- 8  and authority of the state revenue commissioner with respect 
  1- 9  to the foregoing; to provide an effective date; to provide 
  1-10  for applicability; to repeal conflicting laws; and for other 
  1-11  purposes. 
 
  1-12       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-13                           SECTION 1. 
 
  1-14  Code Section 48-7-40.16 of the Official Code of Georgia 
  1-15  Annotated, relating to the income tax credits for  certain 
  1-16  low-emission vehicles, is amended by striking subsections 
  1-17  (b) through (f) and inserting in their places new 
  1-18  subsections (b) through (g) to read as following: 
 
  1-19    "(b) A tax credit is allowed against the tax imposed under 
  1-20    this article to a taxpayer for the purchase or lease of a 
  1-21    new low-emission vehicle that is registered in a covered 
  1-22    area.  The amount of the credit shall be $1,500.00 
  1-23    $2,500.00 per new low-emission vehicle. 
 
  1-24    (c) A tax credit is allowed against the tax imposed under 
  1-25    this article to a taxpayer for the conversion of a 
  1-26    conventionally fueled vehicle to a converted vehicle that 
  1-27    is registered in a covered area.  The amount of the credit 
  1-28    shall be equal to the cost of conversion, not to exceed 
  1-29    $1,500.00 $2,500.00 per converted vehicle. 
 
  1-30    (d) A tax credit is allowed against the tax imposed under 
  1-31    this article to any business enterprise for the purchase 
  1-32    or lease of each electric vehicle charger that is located 
  1-33    in a covered area.  The amount of the credit shall be 
  1-34    $2,500.00 per charger. 
 
 
                                 -1- 
 
 
 
  2- 1    (d)(e) The credits granted under this Code section shall 
  2- 2    be subject to the following conditions and limitations: 
 
  2- 3      (1) All claims for any credit provided by subsection (b) 
  2- 4      of this Code section shall be: 
 
  2- 5        (A) Accompanied by a certification issued by the 
  2- 6        automobile dealership where the new low-emission 
  2- 7        vehicle was purchased or leased; and 
 
  2- 8        (B) Made only by a taxpayer who is the ultimate 
  2- 9        purchaser or lessee of a new low-emission vehicle at 
  2-10        retail; 
 
  2-11      (2) In order to qualify for a tax credit in a particular 
  2-12      calendar year for the lease of a new low-emission 
  2-13      vehicle under subsection (b) of this Code section, the 
  2-14      lease must be in effect prior to or on the last day of 
  2-15      the calendar year in which the credit is claimed; 
 
  2-16      (3) All claims for any credit provided by subsection (c) 
  2-17      of this Code section must be accompanied by a 
  2-18      certification issued by the Environmental Protection 
  2-19      Division of the Department of Natural Resources; 
 
  2-20      (4) Motor vehicles subject to the requirements imposed 
  2-21      upon fleet operators by the federal Clean Air Act, 42 
  2-22      U.S.C. Section 7401, et seq., as amended, and applicable 
  2-23      federal regulations are not eligible for any tax credit 
  2-24      under this Code section; 
 
  2-25      (5) All claims for any credit provided by subsection (d) 
  2-26      of this Code section shall be: 
 
  2-27        (A) Accompanied by a certification issued by the 
  2-28        seller where the new electric vehicle charger was 
  2-29        purchased or leased; and 
 
  2-30        (B) Made only by a taxpayer who is the ultimate 
  2-31        purchaser or lessee of a new electric vehicle charger 
  2-32        at retail; 
 
  2-33      (5)(6) Any credit claimed under this Code section but 
  2-34      not used in any taxable year may be carried forward for 
  2-35      three five years from the close of the taxable year in 
  2-36      which a new low-emission vehicle was purchased or leased 
  2-37      or a conventionally fueled vehicle was changed into a 
  2-38      converted vehicle, provided that the applicable 
  2-39      certification required in paragraph (1) or (3) of this 
  2-40      subsection accompanies any such claim; and 
 
 
 
                                 -2- 
 
 
 
  3- 1      (6)(7) In no event shall the amount of any tax credit 
  3- 2      provided in this Code section exceed the taxpayer's 
  3- 3      income tax liability. 
 
  3- 4    (e)(f) The state revenue commissioner shall be authorized 
  3- 5    to adopt rules and regulations to provide for the 
  3- 6    administration of any tax credit provided by this Code 
  3- 7    section. 
 
  3- 8    (f)(g) The Board of Natural Resources shall be authorized 
  3- 9    to adopt rules and regulations to provide for: 
 
  3-10      (1) The specific standards and requirements for 
  3-11      low-emission and converted vehicles and electric vehicle 
  3-12      chargers which shall be consistent with the terms of 
  3-13      this Code section; 
 
  3-14      (2) An approved certification form which shall be issued 
  3-15      by an automobile dealership which certifies the purchase 
  3-16      or lease of a new low-emission vehicle that is qualified 
  3-17      for a tax credit provided by this Code section; and 
 
  3-18      (3) The certification of any converted vehicle that is 
  3-19      qualified to claim a tax credit provided by this Code 
  3-20      section; and . 
 
  3-21      (4) An approved certification form which shall be issued 
  3-22      by the seller which certifies the purchase or lease of a 
  3-23      new electric vehicle charger that is qualified for a tax 
  3-24      credit provided by this Code section." 
 
  3-25                           SECTION 2. 
 
  3-26  This Act shall become effective on January 1, 2001, and 
  3-27  shall be applicable to all taxable years beginning on or 
  3-28  after January 1, 2001. 
 
  3-29                           SECTION 3. 
 
  3-30  All laws and parts of laws in conflict with this Act are 
  3-31  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
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