Gov. Spencer Cox has signed Utah HB 91, a bipartisan bill that reenacts and extends the availability of a state tax credit related to certain alternative fuel heavy-duty vehicles and makes technical and conforming changes to state law.
Sponsored by State Rep. Andrew Stoddard, a Democrat, and State Senator Lincoln Fillmore, a Republican, the bill encourages the transition of heavy-duty fleets to new Class 7 and Class 8 vehicles fueled by natural gas, an electric drivetrain or a hydrogen-electric drivetrain.
The incentive is available to businesses and individuals purchasing a new qualified truck and is available for purchases made this year through 2030. At the outset, the credits are worth $15,000 for 2021 purchases and decline thereafter by $1,500 per year, providing an incentive for purchasers to act quickly to deploy cleaner technologies.
As enacted, the provision places an annual cap on total credits at $500,000 and includes a 255 set-aside for small fleets, defined as those with 40 or fewer heavy-duty vehicles registered in the state and owned by a single taxpayer. Purchased vehicles utilizing the credit must travel more than 50% of their annual miles within the state.
“This legislation allows for the rapid adoption of all viable clean technologies, works to achieve aggressive emissions reductions and provides fleets the flexibility to choose the best clean vehicle technology solution that suits their needs,” says Dan Gage, president of NGVAmerica.
