DENVER – A bill currently under consideration in the state Legislature would make it more expensive to own an electric vehicle in Colorado.
SB 188, introduced earlier this month in the Senate Finance Committee, would repeal current state tax credits offered to those who purchase alternative fuel vehicles, including EVs.
Currently in Colorado, buyers in the market for an alternative fuel light-duty vehicle are eligible for a $5,000 tax break. Heavy-duty trucks are eligible for a $20,000 tax credit.
The proposed bill -- sponsored by Sen. Vicki Marble, R-Fort Collins -- would eliminate the tax credit for vehicles purchased or leased starting Jan. 1, 2018.
If passed, the proposal would go to the voters as a ballot question in the 2017 election.
Supporters hope to increase state tax revenue by eliminating the credits. Opponents argue the tax incentives help the environment by encouraging the sale of cleaner burning vehicles.
The bill awaits a hearing before the Senate Finance Committee Tuesday.
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