Our legislative session continues… We need your help in providing testimony in support of HB 2462 HD 1.
This bill establishes a state income tax credit of $2,500 for the purchase of an electric vehicle up to $50,000 in price. There will also be an income threshold (not yet defined). The tax credit, if passed, will take effect from December 31, 2020 through December 31, 2028. Here’s the text of the latest version.
Please take a moment to submit testimony in SUPPORT of HB 2462 HD1. This will help us increase our adoption of electric vehicles in Hawaii. Please suggest an amendment to allow the credit amount to be based on the pure-electric range of the car, for example:
- $2500 – for Battery Electric Vehicles and Fuel Cell Electric Vehicles
- $1000 – for Plug In Hybrid Electric Vehicles with >30 mile pure-electric mile range.
- $500 – for Plug In Hybrid Electric Vehicles with <30 mile pure-electric mile range.
Here are some additional points that you are welcome to use.
- Our ground transportation consumes a significant amount of our fossil fuel imports and contributes to significant carbon emissions.
- Gasoline consumption and emissions are still increasing.
- Electric vehicles are many times more efficient than fossil fuel vehicles (80% vs 20%, and naturally contribute to emissions reductions.
- Electric vehicles will help us achieve energy independence, don’t contribute to air and noise pollution, and are also more cost effective to maintain and operate for consumers.
- The purchase price of electric vehicles is a barrier to adoption, especially for residents who are price conscious.
- A tax credit for the purchase of an electric vehicle will incentivize residents to make the shift from gas to electric. This is particularly important as the Federal Tax credit for electric vehicles are being phased out – they are no longer available for certain manufacturers.
If you have not submitted testimony before, you will need to create an account. Please see instructions in an earlier post: Support EV-Friendly Legislation.