Introduced Version
HOUSE BILL No. 1370
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-3-2-21.
Synopsis: Clean fuel vehicle deduction. Provides that an individual is
entitled to an income tax deduction for the purchase or lease of a new
clean fuel vehicle.
Effective: January 1, 2008.
January 16, 2007, read first time and referred to Committee on Ways and Means.
Introduced
First Regular Session 115th General Assembly (2007)
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HOUSE BILL No. 1370
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-3-2-21; (07)IN1370.1.1. -->
SECTION 1. IC 6-3-2-21 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2008]: Sec. 21. (a) As used in this section, "alternative
fuel vehicle" means a motor vehicle that is equipped to operate
when fueled entirely by E85 (as defined in IC 6-6-1.1-103).
(b) As used in this section, "clean fuel vehicle" means an electric
vehicle, a hybrid vehicle, or an alternative fuel vehicle. The term
does not include a golf cart vehicle.
(c) As used in this section, "electric vehicle" means a motor
vehicle with one (1) or more electric motors for propulsion.
(d) As used in this section, "hybrid vehicle" means a motor
vehicle that:
(1) draws propulsion energy from both an internal
combustion engine and an energy storage device; and
(2) employs a regenerative braking system to recover waste
energy to charge the energy storage device that is providing
propulsion energy.
(e) As used in this section, "motor vehicle" has the meaning set
forth in IC 6-6-1.1-103.
(f) An individual is entitled to a deduction from the individual's
adjusted gross income for each clean fuel vehicle that the
individual:
(1) purchased; or
(2) obtained by entering into a lease agreement (as defined in
IC 9-23-2.5-4);
during the taxable year.
(g) The original use of the clean fuel vehicle for which an
individual is claiming the deduction provided by this section must
begin with the individual who claims the deduction.
(h) The amount of the deduction is equal to one thousand five
hundred dollars ($1,500).
(i) To obtain the deduction provided by this section, the
individual must:
(1) claim the deduction on the individual's state tax return or
returns in the manner prescribed by the department; and
(2) submit to the department proof of all information that the
department determines is necessary to support the
individual's claim of purchase or lease of a clean fuel vehicle
during the taxable year.
(j) An individual is not entitled to a deduction under this section
if the clean fuel vehicle for which the deduction is being claimed
was purchased for the purpose of resale.