Obama’s Budget FY 2013 Request Includes NGV Incentives

An article in NGV Global News:

1. Provide a Tax Credit for Medium & Heavy-Duty Alternative Fuel Vehicles (page 34). The credit is $20,000 for vehicles weighing more than 14,000 pounds but not more than 26,000 pounds and $40,000 for vehicles weighing more than 26,000 pounds. However, incentives for light-duty vehicles are not included.
2. Extend several expiring tax credits through FY 2013 (page 65 and Table 4) including six alternative fuel incentives: biodiesel, renewable diesel, alternative fuel, alternative fuel mixtures, cellulosic biofuel, alternative fuel vehicle refueling property, plug-in hybrid conversion.
3. Extend to 100 percent the first-year depreciation deduction for qualified property (pages 3-4). This provision was available at 100 percent during the period September 8, 2010 to December 31, 2011. It currently is available at 50 percent.
4. Request $26.5 million in funding for the Clean Cities program for FY 2013.

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