We’ll see if it will actually pass this time. Previous attempts for this type of legislation failed, but with the current push toward natural gas usage for transportation, this could very well be gaining strength.
From US Gas Vehicles:
April 11, 2011. The New Alternative Transportation to Give Americans Solutions (NAT GAS) of 2011 was introduced on Wednesday by Reps. John Sullivan, R-OK, Dan Boren, D-OK, John Larson, D-CT, and Kevin Brady, R-TX. The bill, H. R. 1380, had 76 original co-sponsors when it was introduced.
The NAT GAS Act would restore and expand the NGV tax credit that makes NGVs eligible for a credit equal to 80% of the vehicle’s incremental cost subject to caps depending upon vehicle size. It would also extend for five years the 50-cent-per-gallon alternative fuel credit for the purchase of natural gas fuel, and would expand tax credit incentives for developing natural gas fueling infrastructure.
The legislation provides:
• A tax credit for up to 80% of the incremental cost of buying a natural gas vehicle, with a maximum value ranging from $7.500 for a light-duty passenger vehicle to $64.000 for the heaviest trucks. Recognizing the innovations in vehicle engine technology, the bill includes incentives for both bi-fuel vehicles – those that run on either natural gas or gasoline – and dual fueled vehicles – where there is a mixture of small amount of diesel fuel with the natural gas. There are no vehicle tax credits in place today.
• A 50-cent per gallon fuel tax credit that is in place in 2011.
• An infrastructure tax credit of 50% of the cost up to a maximum tax credit of $100.000 per station. For stations built in 2011, there is an existing infrastructure tax credit of 30% with a maximum credit of $30.000. These credits cover only a small portion of the cost of building a station. This credit would also extend to home refueling units, where purchases would be eligible for a $2.000 tax credit.
• A tax credit to the manufacturer for the production of natural gas vehicles. The bill also includes other provisions that will facilitate the production and use of natural gas vehicles.
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