January 24, 2006, Introduced by Reps. Gonzales, Vagnozzi, Zelenko, Lemmons, III, Angerer, Polidori and Spade and referred to the Committee on Tax Policy.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 275.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 275. (1) For tax years that begin after December 31,
2005, a taxpayer that purchases an alternative fueled vehicle may
claim a credit equal to $500.00 in the tax year in which the
alternative fueled vehicle was purchased.
(2) If the amount of the credit allowed under this section
exceeds the tax liability of the taxpayer for the tax year, that
portion of the credit that exceeds the tax liability shall be
refunded.
(3) As used in this section:
(a) "Alternative fueled vehicle" means a passenger vehicle
that is an electric vehicle or is powered exclusively by hydrogen
fuel.
(b) "Electric vehicle" means a passenger vehicle that draws
propulsion energy only from an on-board source of electrical
energy.
(c) "Passenger vehicle" means a motor vehicle with motive
power designed to carry 10 passengers or less, or a van having a
GVWR of 5,000 pounds or less, but not including a multipurpose
passenger motor vehicle, motorcycle, or truck.