AB 1341 (Calderon) Zero-emission and near-zero-emission vehicles: tax credits, deductions, & exemptions.
(1) For purposes of imposing the state's share (but not local share) of the sales and use tax, would exclude from “gross receipts” and “sales price” that portion of the cost of a used near-zero-emission or zero-emission vehicle purchased by a low-income purchaser that does not exceed $40,000.
(2) Allow between January 1, 2018 until January 1, 2026 a credit under the Personal Income Tax Law for the purchase of a new near-zero-emission or zero-emission vehicle and provides additional credit for low income purchasers. Credits would be subject to appropriations.
(3) This bill would provide that moneys from the Greenhouse Gas Reduction Fund, upon appropriation by the Legislature, may be transferred to the General Fund for purposes of reimbursing the General Fund for the costs of the sales tax exemption and the income tax credit in the bill.
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|Last Updated:||April 11, 2017|