Energy
AN ACT TO PROMOTE THE DEVELOPMENT OF
ALTERNATIVE FUELS AND THE USE OF ALTERNATIVE FUEL VEHICLES IN
THE COMMONWEALTH
(S 2176)
The legislation
requires that at minimum 5% of all new vehicles purchased by
the Commonwealth each year be powered by alterative fuels, and
that at minimum 50% of the states vehicle fleet be
alternative fuel based by 2010.
Authorizes a $10
million bond to fund a grant program for cities and towns,
school districts and regional transit authorities to build an
infrastructure to provide for the availability of alternative
fuels and financial assistance for the purchase of alternative
fuel vehicles.
Establishes tax
incentives and benefits for private consumers who purchase
hybrid or alternative fuel vehicles over the next five years.
$2000 tax
exemption for the purchase or lease of hybrid or alternative
fuel vehicle
Free Fast Lane
Transponders
HOV lane access
Free or reduced
price municipal parking (by local option)
Establishes tax
incentives for commercial carriers to increase their use of
alternative fuel vehicles and tax incentives for corporations
who develop alternative fuels and alternative fuel refueling
facilities.
Expansion of the
investment tax credit to corporations which develop
alternative fuels and refueling facilities
Corporate excise
tax credits for large commercial fleet purchases of
alternative fuel vehicles
Reduction in the
state tax on alternative fuel to 25% less than the current tax
rate on conventional gasoline
Establishes an
Alternative Fuel Institute at the University of
Massachusetts to coordinate the
development of alternative fuels and foster partnerships
between Massachusetts businesses, state agencies and the
University for the commercialization of alternative fuel
technology and componentry.
Currently pending before the
House Committee on Ways and Means
Chief Sponsors:
Senator Bruce E. Tarr, Minority
Whip
Senator Robert Travaglini,
Senate President
Chairman Steven A. Baddour,
Transportation Committee
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