HF 1366

as introduced - 87th Legislature (2011 - 2012) Posted on 04/04/2011 09:17am

A bill for an act
relating to taxation; providing an alternative fuel infrastructure credit; proposing
coding for new law in Minnesota Statutes, chapter 290.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [290.0693] ALTERNATIVE FUEL INFRASTRUCTURE CREDIT.
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new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the following terms
have the meanings given.
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new text begin (b) "Alternative fuel" means:
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new text begin (1) compressed natural gas;
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new text begin (2) liquefied natural gas;
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new text begin (3) liquefied petroleum gas;
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new text begin (4) hydrogen;
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new text begin (5) ethanol blends of 85 percent or more by volume; and
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new text begin (6) electricity.
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new text begin (c) "Alternative fuel vehicle refueling property" means any property, not including a
building and its structural components, that is used for:
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new text begin (1) the storage or dispensing of an alternative fuel into the fuel tank of a motor
vehicle, but only if the storage or dispensing of the alternative fuel is at the point where
the fuel is delivered into the fuel tank of the motor vehicle; or
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new text begin (2) the recharging of motor vehicles propelled by electricity, but only if the property
is located at the point where the motor vehicles are recharged.
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new text begin (d) "Motor vehicle" means any vehicle which is manufactured primarily for use on
public streets, roads, and highways that has at least four wheels and is capable of being
propelled by an alternative fuel.
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new text begin Subd. 2. new text end

new text begin Credit. new text end

new text begin (a) A taxpayer that constructs, installs, and places in service in
this state a commercial or residential facility that is used for dispensing alternative fuel to
motor vehicles is allowed a credit against the tax imposed by this chapter equal to:
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new text begin (1) thirty percent of the cost of the alternative fuel vehicle refueling property; and
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new text begin (2) thirty percent of the cost of installing the alternative fuel vehicle refueling
property, including any installation of related pumps, storage tanks, and other related
equipment necessary for the proper installation of the alternative fuel vehicle refueling
property.
new text end

new text begin (b) The credit is limited to the liability for tax under this chapter, including the tax
imposed by sections 290.0921 and 290.0922.
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new text begin (c) If the amount of the credit under this subdivision for any taxable year exceeds
the limitations under paragraph (b), the excess is a credit carryover to each of the four
succeeding taxable years. The entire amount of the excess unused credit for the taxable
year must be carried first to the earliest of the taxable years to which the credit may be
carried. The amount of the unused credit that may be added under this paragraph may not
exceed the taxpayer's liability for tax, less the credit for the taxable year.
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new text begin (d) If an alternative fuel refueling property is disposed of or taken out of service
during the time period that a taxpayer is eligible for a credit under this section, then the
remainder, if any, of the credit that has not been claimed is forfeited.
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new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after
December 31, 2011, and before January 1, 2016.
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