SB527 - Creates a nonrefundable tax credit for using alternative fuels

SB 0527

Creates a nonrefundable tax credit for using alternative fuels

Sponsor:	Dougherty
LR Number:	1592L.03I	Fiscal Note:	1592-03
Committee:	Ways and Means
Last Action:	02/26/01 - Second Read and Referred S Ways & Means Committee		Journal page:	S333
Title:
Effective Date:	August 28, 2001

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Current Bill Summary

SB 527 - This act creates non-refundable tax credits for the use of alternative fuel in motor vehicles. Between 2002 and 2008 taxpayers who own a motor vehicle titled and registered in Missouri, is used in business, and uses or is converted to use alternative fuel will be allowed a non-refundable tax credit. A formula for computing the non-refundable tax credit is based on the cost to purchase, convert or use a vehicle with alternative fuel vs. the cost to purchase, convert or use a vehicle with traditional fuel.
CINDY KADLEC