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USA: Bill To Promote Electric Car Usage Advances In Legislature

TRENTON –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 (A-566) was Ok’d by a vote of 54-20-5.

“We should be doing all we can to promote electric car usage and purchases in New Jersey,” said Assemblyman Craig Coughlin (D-Middlesex), a sponsor of the proposed legislation. “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.”

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.

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