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Jan
25

Autogas fleets will benefit from recent tax package

Previously expired federal alternative fuel tax credits were renewed in the December lame-duck Congressional session, providing Autogas fleets additional economic incentive. The tax package – H.R. 4853 – includes the following Autogas provisions:

  1. Excise Tax Credits and Outlay Payments for Alternative Fuel and Alternative Fuel Mixtures
    • Extends 50-cent-per-gallon alternative fuel tax credit for Autogas purchases through December 31, 2011
    • Retroactively applies to Autogas purchases for the year 2010
  2. Alternative Fuel Vehicle Refueling Property Credit
    • Extends the infrastructure credit for alternative fuel refueling facilities, including propane Autogas, through December 31, 2011
    • Provides a credit for 30 percent of the property’s cost, up to $30,000 (which is how the original credit from 2005 was instated)

Take a look at this package summary, provided by Autogas for America, an organization that is driving the use of clean and domestically produced propane Autogas.

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