PARRIS N. GLENDENING, Governor

Ch. 124

refueling property; limiting the amount of the credit and the vehicles and refueling
property for which the credit is allowed; providing for the application and
termination of this Act; and generally relating to a credit against certain State taxes
for costs of alternative-fuel and electric vehicles; and certain property for
converting a vehicle to an alternative-fuel vehicle, and certain refueling property.

BY adding to

Article - Tax - General

Section 8-406(d) and (e) and 10-704.2

Annotated Code of Maryland

(1988 Volume and 1994 Supplement)

BY repealing and reenacting, with amendments,
Article - Tax - General
Section 10-706(b)
Annotated Code of Maryland
(1988 Volume and 1994 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - General

8-406.

(D) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, A PUBLIC SERVICE
COMPANY, INCLUDING A MULTIJURISDICTIONAL PUBLIC SERVICE COMPANY, MAY
CLAIM A CREDIT AGAINST THE PUBLIC SERVICE COMPANY FRANCHISE TAX IN THE
AMOUNT EQUAL TO:

(1) 40% OF THE DEDUCTION ALLOWED TO THE PUBLIC SERVICE
COMPANY FOR THE COST OF QUALIFYING CLEAN FUEL VEHICLE PROPERTY AS
DEFINED AND LIMITED BY § 179A OF THE INTERNAL REVENUE CODE;

(2) 10% OF THE DEDUCTION ALLOWED TO THE PUBLIC SERVICE
COMPANY FOR THE COST OF QUALIFYING CLEAN FUEL VEHICLE REFUELING
PROPERTY AS DEFINED AND LIMITED BY § 179A OF THE INTERNAL REVENUE CODE;

AND

(3) 40% OF THE CREDIT ALLOWED TO THE PUBLIC SERVICE COMPANY
FOR A QUALIFIED ELECTRIC VEHICLE, AS DEFINED AND LIMITED BY § 30 OF THE
INTERNAL REVENUE CODE.

(E) (1) A CREDIT IS NOT ALLOWED FOR:

(I) A VEHICLE THAT IS NOT REGISTERED IN THE STATE;

(II) PROPERTY INSTALLED ON A VEHICLE THAT IS NOT
REGISTERED IN THE STATE; OR

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