Louisiana Gov. John Bel Edwards has signed SB 8 – a piece of legislation that accelerates the sunset date of the state’s alternative fuel vehicle (AFV) and electric vehicle (EV) tax credits to July 1.
The bill, which passed the state senate in April and the house earlier this month, specifies that if a vehicle owner has proof of vehicle purchase before July 1, taxes may be filed normally with the credit.
The tax credit for alternative-fuel vehicle conversion property will remain intact until Jan. 1, 2022.
SB 8 was sponsored by State Sen. Barrow Peacock.
“As more and more vehicles become electric, we have to be diligent about what this costs the state, and Louisiana simply can’t afford these credits for such vehicles, especially as they become more widely used by drivers,” he stated in a newsletter.
Ann Vail, executive director of Louisiana Clean Fuels, urges alt-fuel stakeholders to take a look at their vehicle procurement plans.
“This change takes effect in just a matter of weeks,” she says. “Consumers and business owners who were planning to purchase a plug-in electric, propane or natural gas-powered personal vehicle, work truck or other fleet vehicle carefully budget and plan procurement schedules. We want to make sure these consumers are aware of this change before they make financial commitments that may affect their bottom line.”