SB 98 – Creates an income tax deduction for the purchase of qualified hybrid motor vehicles

• Sponsor: Smith
• LR Number: 0082S.01I
• Committee: Governmental Accountability and Fiscal Oversight
• Last Action: 1/22/2009 - Second Read and Referred S Governmental Accountability and Fiscal Oversight Committee
• Journal Page: S170
• Effective Date: August 28, 2009

Current Bill Summary

SB 98 - This act creates an income tax deduction for the purchase of qualified hybrid motor vehicles. Missouri taxpayers who purchase certain new hybrid motor vehicles for their own use shall be able to deduct from their Missouri adjusted gross income the lesser of either $2,000 or 10% of the vehicle's purchase price. The tax deduction shall sunset six years after enactment unless reauthorized.

This act is similar to HB 1326 (2008).

ERIKA JAQUES