Thursday, June 18, 2009

Louisiana HB 110: Increased Tax Credit for Natural Gas Cars

Finally, some leadership from Louisiana politicians! Credit Rep. Jane Smith of Shreveport for introducing HB 110 in the current legislative session to increase the individual and corporate income tax credit from 20% to 50% for the purchase of a qualified clean-burning motor vehicle, the purchase and installation of equipment to convert a gasoline or diesel engine to burn natural gas and to develop a dispensing location (Monroe News Star article).

As of Tuesday night, the bill passed the Senate Revenue and Fiscal Affairs Committee. It's hardly a done deal, but I'm glad to see Louisiana finally taking a leadership role in supporting the adoption natural gas vehicles. Who knows if the NAT GAS Act will get anywhere in Congress or if the Pickens Plan will make headway nationwide. I'm just glad to see Louisiana actually in front of a big national issue (that will also benefit the state).

Shreveport has already taken a step in the right direction by moving towards natural gas buses. I'm chagrined that New Orleans recently purchased biodiesel buses, but there might still be hope there.

1 comment:

Anonymous said...

Wow, what great step in the right direction. This is the type of bills we need to grow Louisiana and break our dependency on foreign oil. Thank you Jane! Let me know if there is anything i can do to make this happen.
Craig Watson