Assembly Democratic legislation to promote electric vehicle usage by providing corporation business tax credit and gross income tax credits for buying and installing electric vehicle charging stations was recently approved by the Assembly.
The bill, sponsored by sponsored by Connie Wagner, Craig J. Coughlin, Angel Fuentes and Valerie Vainieri Huttle, was Ok’d by a vote of 54-20-5.
“It’s clear that electric cars can play a lead role in tackling some of our biggest concerns, whether it be our reliance on foreign oil or environmental and health concerns,” said Wagner (D-Bergen). “This bill will help steer New Jersey in the right direction.”
“We should be doing all we can to promote electric car usage and purchases in New Jersey,” said Coughlin (D-Middlesex). “This bill isn’t a cure-all, but it’s certainly a great stride toward making New Jersey a friendly state for electric cars, and that’s a great thing.”
“We’ve heard all too often about the serious health concerns facing many children in congested urban areas, and we know some of that comes from exhaust pollution,” said Fuentes (D-Camden/Gloucester). “This bill will finally push our state in the right direction toward making it easier to buy and use electric cars.”
“This is a sensible and response way to promote the purchases of electric cars in New Jersey, which helps our economy and environment,” said Vainieri Huttle (D-Bergen). “This is a great start toward a smart future for New Jersey.”
Under the bill, charging stations purchased and installed in 2013 will be allowed a credit in an amount of 25 percent of the cost, up to $500 per electric vehicle charging station; for a charging station purchased and installed in 2014 the credit is 15 percent of the cost, up to $300 per charging station; and for a charging station purchased and installed in 2015 the credit is eight percent of the cost, up to $150 per station.
The bill also provides a gross income tax credit for a charging station purchase that is not required to be for business use. The credit for 2013 is 25 percent of cost, up to $500, for 2014 it’s 15 percent of cost, up to $300 and for 2015 it’s 8 percent of cost, up to $150, for the purchase and installation of a charging station.
To qualify for the bill’s tax credits the taxpayer must file an application for a certification with the Commissioner of Environmental Protection that the charging station purchased and installed by the taxpayer is a qualified electric vehicle charging station.
The bill will be referred to the Senate for more consideration. TLS.
Great another waste of taxpayer money.
Oil is G-ds way of showing us he loves us
Anything but crude oil.
Electric cars are a joke , look at the Chevy Volt production stopped $40,000 + car , REALLY is it no wonder it didn’t sell .
How is this going to help New Jersey? New Jersey does not make the cars nor do we make the batteries for the cars. This is just another Democratic propaganda campaign to help Obama get elected……
every 25 miles you will have to recharge yourcar—what a waste
every 26 miles you will have to recharge your car–what a waste
So you put in a fast-charging station, for big bucks, to charge a Chevy Volt. Don’t expect to charge a Prius on it. All the cars have different charging specifications and the plugs are not compatible with each other. The only charging stations that work with all the cars are the ones with 110 volt output (plain AC house current). However, the car will have to have it’s charger on board and will be there for 8 -12 hours to charge up. I recently read that a “big box” store removed it’s charging station because no-one used it.
No 7 who is going to buy a car like this? 8 to 12 hours to charge every 25 to 30 miles
Hey Jason: Obama Said he would when he gets out of office. lets hope we get to see it this November!