Virginia Proposes $3,500 Tax Credit For Electric Cars

JAN 9 2018 BY MARK KANE 11

Electric cars in Virginia could become up to 10% more affordable this year if bill HB469 with new tax credits passes into law.

Chevrolet Bolt EV

On Wednesday, January 10, Virginia General Assembly will decide whether or not to introduce a tax credit for purchase or lease electric car.

10% of the priceup to $3,500, will to be available if passed (with three years of eligibility).

Electric vehicle tax credit. Establishes for taxable years beginning on and after January 1, 2018, a tax credit in the amount of 10 percent of the purchase or lease price of an electric vehicle. The bill defines “electric vehicle” and provides that the credit is nonrefundable, may be carried forward for three years, and shall not exceed $3,500 per taxpayer. The bill requires the Department of Taxation to cease issuing tax credits for electric vehicles when 20 percent of vehicles registered in Virginia are electric or in taxable year 2023, whichever is sooner.” – bill HB469

Source: Plug In Sites

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11 Comments on "Virginia Proposes $3,500 Tax Credit For Electric Cars"

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The lease price here is critical. Pennsylvania can’t move its credits because they don’t apply to leases.

Unfortunately, a coin flip meant that the VA house of delegates remains in republican control, usually a bad sign for proposals like these.

(⌐■_■) Trollnonymous

I think these incentives should have an accompanying incentive for solar panels if the buyer wanted to go solar as well.

Now VA just needs to join the list of CARB ZEV states.

Is this one of the states that do not allow Tesla sales?

VA does allow. I bought an X at the Tesla Tysons location. They also set up shop in Richmond VA.

Tesla is on a limited sales liscense in virginia. No guarantee they will be able to continue selling cars out of the 2 locations.

100% guarantee unless VADA’s suit is successful… which is highly unlikely that VADA will win.

Darth VADA should NEVER be allowed to win!

“20% of registered vehicles are electric in Virginia”, now that would take some really impressive EV sales numbers in the state of Virginia, over the next 5 years. That would be around 300,000. EVs a year for the next 5 years. Tesla better get out of “production hell” like yesterday.

I was curious to see what the proposed bill defined as an EV. Turns out it uses the Federal tax credit definition in 26 U.S.C. § 30D; IIUC, any plug-in with at least 5KWh of battery would count — that means all PHEVs would be included.
Hope this passes.