An Act relative to propane powered vehicle tax credit

Summary

This legislation adds new section (38CC) to Chapter 63 establishing a propane powered vehicle tax credit program that allows a refundable tax credit based on the cost of converting their fleet of motor vehicles to propane propelled vehicles. The credit may be claimed against the taxes due pursuant to this chapter. The total cumulative value of the tax credits authorized pursuant to this section shall not exceed $4,000,000 annually and shall expire in 2016.