February 25, 2013

Lawmaker plugs a tax break for electric cars

The Associated Press

AUGUSTA — Owners of plug-in electric vehicles would get tax breaks in Maine if a bill up for review this week passes.

Bangor Democratic Sen. Geoffrey Gratwick's bill would create an income tax credit for the purchase of qualified plug-in electric vehicles. The break would be equal to the excise tax paid, up to $1,000. A hearing is planned Monday afternoon before the Taxation Committee.

Maine wouldn't be the first state to pass such a tax credit. Colorado offers a tax credit of 85 percent for conversions completed between Jan. 1, 2010 and Jan. 1, 2012, lowering the cost of converting to electric hybrids.

The tax credit proposed in Maine would expire Jan. 1, 2017.

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