Ch. 124

1995 LAWS OF MARYLAND

(III) CLEAN FUEL VEHICLE REFUELING PROPERTY NOT LOCATED
IN THE STATE.

(2) A CREDIT MAY ONLY BE CLAIMED AGAINST THE PUBLIC SERVICE
FRANCHISE TAX DUE FOR THE CALENDAR YEAR IN WHICH THE PUBLIC SERVICE
COMPANY'S TAXABLE YEAR ENDS.

(3) THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SECTION MAY
MOT EXCEED THE PUBLIC SERVICE COMPANY FRANCHISE TAX FOR THE CALENDAR
YEAR IN WHICH THE TAXPAYER'S TAXABLE YEAR ENDS.

(4) THE UNUSED AMOUNT OF THE CREDIT FOR ANY TAXABLE YEAR
MAY NOT BE CARRIED OVER TO ANY OTHER TAXABLE YEAR.

10-704.2.

(A)     EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, AN INDIVIDUAL OR
A CORPORATION MAY CLAIM A CREDIT AGAINST THE STATE INCOME TAX FOR A
TAXABLE YEAR IN THE AMOUNT EQUAL TO:

(1)      EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION, 40%
OF THE DEDUCTION ALLOWED TO THE INDIVIDUAL OR CORPORATION FOR THE
COST OF QUALIFYING CLEAN-FUEL VEHICLE PROPERTY AS DEFINED AND LIMITED
BY § 179A OF THE INTERNAL REVENUE CODE AND PLACED IN SERVICE DURING THE
TAXABLE YEAR;

(2)      10% OF THE DEDUCTION ALLOWED TO THE INDIVIDUAL OR
CORPORATION FOR THE COST OF QUALIFYING CLEAN FUEL REFUELING PROPERTY
AS DEFINED AND LIMITED BY § 179A OF THE INTERNAL REVENUE CODE AND
PLACED IN SERVICE DURING THE TAXABLE YEAR 80% OF THE DEDUCTION
ALLOWED TO THE INDIVIDUAL OR CORPORATION FOR THE COST OF ANY TRUCK OR
VAN WITH A GROSS VEHICLE WEIGHT OF MORE THAN 5,000 BUT LESS THAN 10,000
POUNDS THAT IS QUALIFYING CLEAN-FUEL VEHICLE PROPERTY UNDER § 179A OF
THE INTERNAL REVENUE CODE AND IS PLACED IN SERVICE DURING THE TAXABLE
YEAR; AND

(3)      40% OF THE CREDIT ALLOWED FOR A QUALIFIED ELECTRIC
VEHICLE, AS DEFINED AND LIMITED BY INTERNAL REVENUE CODE § 30, PLACED IN
SERVICE DURING THE TAXABLE YEAR.

(B)     THE CREDIT ALLOWED IN SUBSECTION (A) OF THIS SECTION SHALL NOT
APPLY TO THE AMOUNTS FOR WHICH A CREDIT IS CLAIMED AGAINST THE PUBLIC
SERVICE COMPANY FRANCHISE TAX UNDER § 8-406 OF THIS ARTICLE UNDER THIS
SECTION MAY NOT BE CLAIMED:

(1) BY AN ALTERNATIVE FUEL PROVIDER; OR

(2) FOR A VEHICLE, UNLESS THE CLAIMANT HAS ALREADY MET OR
EXCEEDED ANY STATE OR FEDERAL LAWS OR REGULATIONS GOVERNING
CLEAN-FUEL VEHICLE OR ELECTRIC VEHICLE PURCHASES OR CONVERSIONS
APPLICABLE DURING THE TAXABLE YEAR.

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