Georgia Senate Runs Out Of Time To Vote On HB 257 – $5,000 EV Incentive Lives Another Year!
For the last month current and future EV Owners of Georgia were paying close attention to the House Bill 257 sponsored by Representative Martin.
The initial language of the bill would completely eliminate both ZEV ($5,000) and LEV ($2,500 – does not apply to PHEVs) credits as early as April 2014. (Around the same time the newly priced 2014 Mitsubishi i-MiEV will to hit the market at $22,995)
With the help of many activist and EV enthusiast here in Georgia a grand effort was made to stop the bill before the EV community can take off. Of course Atlanta has been the number one NISSAN LEAF sales city for many months in a row, the real consequence of this bill would be seen on newer models that are coming to this market including the BMW i3, SMART Electric Drive and Kia Soul.
The Senate’s version of the bill kept the tax credit but placed a monetary cap of Ten Million Dollars per fiscal year, essentially making the credit available to roughly 2,000 cars a year.
In the last 2 hours before the end of the legislative session, Representative Martin introduced yet another amendment that would also include PHEVs but an overall credit of $2,500 and a $10MM cap.
With the last hour remaining, Georgia Senate did not have enough time to vote on HB 257 and therefore it will not make it to the Governor’s desk and Georgia gets to keep the $5,000 credit for another year (despite many other media outlets reporting of the contrary).
According to Georgia Department of Revenue, in 2011, the total amount of ZEV/LEV Credits was only: $305,217 and in 2012: $1,126,784. However, everyone is expecting to rise sharply for 2013 and we will keep an eye on this number.
Until the next 2014/2015 Legislative Session, there is nothing stopping Georgia at breaking a few more sales records for Zero Emission Electric Vehicles.