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SB-578 Income and corporation taxes: credit: electric vehicle charging stations.(2015-2016)

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SB578:v98#DOCUMENT

Amended  IN  Senate  April 13, 2015

CALIFORNIA LEGISLATURE— 2015–2016 REGULAR SESSION

Senate Bill
No. 578


Introduced by Senator Block

February 26, 2015


An act relating to public resources. to add Sections 17053.83 and 23683 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.


LEGISLATIVE COUNSEL'S DIGEST


SB 578, as amended, Block. Electric vehicles: charging stations. Income and corporation taxes: credit: electric vehicle charging stations.
The Personal Income Tax Law and the Bank and Corporation Tax Law allow various credits against the taxes imposed by those laws.
This bill, for taxable years beginning on or after January 1, 2016, would allow a credit in an amount equal to 30% of the cost of purchasing Level 2 or direct current fast charger electric vehicle charging stations to be used in the trade or business of the taxpayer, not to exceed $30,000 per taxable year.
This bill would take effect immediately as a tax levy.

Existing law establishes the Clean Energy Upgrade Program, administered by the California Alternative Energy and Advanced Transportation Financing Authority to reduce overall costs by helping finance an applicant’s loan program for the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements that are permanently fixed to real property by providing a reserve or other financial assistance at a level to be determined by the State Energy Resources Conservation and Development Commission and the authority.

This bill would state the intent of the Legislature to enact legislation that expands electric vehicle charging stations in the state.

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NOYES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 17053.83 is added to the Revenue and Taxation Code, to read:

17053.83.
 (a) For each taxable year beginning on or after January 1, 2016, a credit against the “net tax,” as defined in Section 17039, shall be allowed to a taxpayer in an amount equal to 30 percent of the costs of purchasing any Level 2 or direct current fast charger electric vehicle charging station, that is of a character subject to an allowance for depreciation, placed in service in California on or after January 1, 2016, not to exceed $30,000 per taxable year.
(b) The Franchise Tax Board shall prescribe regulations as necessary to carry out the provisions of this section.
(c) Section 41 does not apply to the credit allowed by this section.

SEC. 2.

 Section 23683 is added to the Revenue and Taxation Code, to read:

23683.
 (a) For each taxable year beginning on or after January 1, 2016, a credit against the “tax,” as defined in Section 23036, shall be allowed to a taxpayer in an amount equal to 30 percent of the costs of purchasing any Level 2 or direct current fast charger electric vehicle charging station, that is of a character subject to an allowance for depreciation, placed in service in California on or after January 1, 2016, not to exceed $30,000 per taxable year.
(b) The Franchise Tax Board shall prescribe regulations as necessary to carry out the provisions of this section.
(c) Section 41 does not apply to the credit allowed by this section.

SEC. 3.

 This act provides for a tax levy within the meaning of Article IV of the Constitution and shall go into immediate effect.
SECTION 1.

It is the intent of the Legislature to enact legislation that expands electric vehicle charging stations in the state.