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Minnesota Legislature

Office of the Revisor of Statutes

HF 1002

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4 1.5
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A bill for an act
relating to taxation; income taxes; providing an income tax credit for the purchase
of an alternative fuel vehicle; appropriating money;amending Minnesota
Statutes 2006, section 290.06, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2006, section 290.06, is amended by adding a
subdivision to read:


new text begin Subd. 34. new text end

new text begin Alternative fuel vehicle credit. new text end

new text begin (a) A credit is allowed against the tax
due under this chapter for an amount equal to $1,000 or ten percent of the purchase price,
whichever is greater, for the purchase of an alternative fuel vehicle, as defined in section
216C.01, subdivision 1.
new text end

new text begin (b) If the amount of credit which the taxpayer is eligible to receive under this
subdivision exceeds the taxpayer's tax liability under this chapter, the commissioner shall
refund the excess to the taxpayer.
new text end

new text begin (c) The amount necessary to pay claims for the refund provided in this subdivision is
appropriated from the general fund to the commissioner of revenue.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after
December 31, 2006.
new text end