Bill Text: MN SF993 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Alternative fuel infrastructure income tax credit
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-03-04 - Referred to Taxes [SF993 Detail]
Download: Minnesota-2013-SF993-Introduced.html
1.2relating to taxation; providing an alternative fuel infrastructure credit;proposing
1.3coding for new law in Minnesota Statutes, chapter 290.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. [290.0693] ALTERNATIVE FUEL INFRASTRUCTURE CREDIT.
1.6 Subdivision 1. Definitions. (a) For purposes of this section, the following terms
1.7have the meanings given.
1.8(b) "Alternative fuel" means:
1.9(1) compressed natural gas;
1.10(2) liquefied natural gas;
1.11(3) liquefied petroleum gas;
1.12(4) hydrogen;
1.13(5) ethanol blends of 85 percent or more by volume; and
1.14(6) electricity.
1.15(c) "Alternative fuel vehicle refueling property" means any property, not including a
1.16building and its structural components, that is used for:
1.17(1) the storage or dispensing of an alternative fuel into the fuel tank of a motor
1.18vehicle, but only if the storage or dispensing of the alternative fuel is at the point where
1.19the fuel is delivered into the fuel tank of the motor vehicle; or
1.20(2) the recharging of motor vehicles propelled by electricity, but only if the property
1.21is located at the point where the motor vehicles are recharged.
1.22(d) "Motor vehicle" means any vehicle which is manufactured primarily for use on
1.23public streets, roads, and highways that has at least four wheels and is capable of being
1.24propelled by an alternative fuel.
2.1 Subd. 2. Credit. (a) A taxpayer that constructs, installs, and places in service in
2.2this state a commercial or residential facility that is used for dispensing alternative fuel to
2.3motor vehicles is allowed a credit against the tax imposed by this chapter equal to:
2.4(1) 30 percent of the cost of the alternative fuel vehicle refueling property; and
2.5(2) 30 percent of the cost of installing the alternative fuel vehicle refueling property,
2.6including any installation of related pumps, storage tanks, and other related equipment
2.7necessary for the proper installation of the alternative fuel vehicle refueling property.
2.8(b) The credit is limited to the liability for tax under this chapter, including the tax
2.9imposed by sections 290.0921 and 290.0922.
2.10(c) If the amount of the credit under this subdivision for any taxable year exceeds
2.11the limitations under paragraph (b), the excess is a credit carryover to each of the four
2.12succeeding taxable years. The entire amount of the excess unused credit for the taxable
2.13year must be carried first to the earliest of the taxable years to which the credit may be
2.14carried. The amount of the unused credit that may be added under this paragraph may not
2.15exceed the taxpayer's liability for tax, less the credit for the taxable year.
2.16(d) If an alternative fuel refueling property is disposed of or taken out of service
2.17during the time period that a taxpayer is eligible for a credit under this section, then the
2.18remainder, if any, of the credit that has not been claimed is forfeited.
2.19EFFECTIVE DATE.This section is effective for taxable years beginning after
2.20December 31, 2012, and before January 1, 2017.
1.3coding for new law in Minnesota Statutes, chapter 290.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. [290.0693] ALTERNATIVE FUEL INFRASTRUCTURE CREDIT.
1.6 Subdivision 1. Definitions. (a) For purposes of this section, the following terms
1.7have the meanings given.
1.8(b) "Alternative fuel" means:
1.9(1) compressed natural gas;
1.10(2) liquefied natural gas;
1.11(3) liquefied petroleum gas;
1.12(4) hydrogen;
1.13(5) ethanol blends of 85 percent or more by volume; and
1.14(6) electricity.
1.15(c) "Alternative fuel vehicle refueling property" means any property, not including a
1.16building and its structural components, that is used for:
1.17(1) the storage or dispensing of an alternative fuel into the fuel tank of a motor
1.18vehicle, but only if the storage or dispensing of the alternative fuel is at the point where
1.19the fuel is delivered into the fuel tank of the motor vehicle; or
1.20(2) the recharging of motor vehicles propelled by electricity, but only if the property
1.21is located at the point where the motor vehicles are recharged.
1.22(d) "Motor vehicle" means any vehicle which is manufactured primarily for use on
1.23public streets, roads, and highways that has at least four wheels and is capable of being
1.24propelled by an alternative fuel.
2.1 Subd. 2. Credit. (a) A taxpayer that constructs, installs, and places in service in
2.2this state a commercial or residential facility that is used for dispensing alternative fuel to
2.3motor vehicles is allowed a credit against the tax imposed by this chapter equal to:
2.4(1) 30 percent of the cost of the alternative fuel vehicle refueling property; and
2.5(2) 30 percent of the cost of installing the alternative fuel vehicle refueling property,
2.6including any installation of related pumps, storage tanks, and other related equipment
2.7necessary for the proper installation of the alternative fuel vehicle refueling property.
2.8(b) The credit is limited to the liability for tax under this chapter, including the tax
2.9imposed by sections 290.0921 and 290.0922.
2.10(c) If the amount of the credit under this subdivision for any taxable year exceeds
2.11the limitations under paragraph (b), the excess is a credit carryover to each of the four
2.12succeeding taxable years. The entire amount of the excess unused credit for the taxable
2.13year must be carried first to the earliest of the taxable years to which the credit may be
2.14carried. The amount of the unused credit that may be added under this paragraph may not
2.15exceed the taxpayer's liability for tax, less the credit for the taxable year.
2.16(d) If an alternative fuel refueling property is disposed of or taken out of service
2.17during the time period that a taxpayer is eligible for a credit under this section, then the
2.18remainder, if any, of the credit that has not been claimed is forfeited.
2.19EFFECTIVE DATE.This section is effective for taxable years beginning after
2.20December 31, 2012, and before January 1, 2017.
