Provides corporation business tax and gross income tax credits for purchase and installation of electric vehicle charging stations and for commercial zero emission vehicle fleet conversions.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill provides New Jersey corporations and individuals with tax credits for purchasing and installing electric vehicle charging stations and for converting commercial vehicle fleets to zero-emission vehicles. Businesses can receive a credit for the cost of charging stations used in their operations, or for the purchase of qualifying zero-emission vehicles. The credits are capped at specific amounts based on vehicle weight and are subject to application and certification requirements by the Commissioner of Environmental Protection. The bill also establishes a timeframe for the availability of these credits and outlines rules for carrying them forward.
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