The bill amends K.S.A. 79-32,201 to provide tax credits for taxpayers who make expenditures on qualified alternative-fueled motor vehicles and alternative-fuel fueling stations. The credit structure is adjusted based on the year the vehicle or fueling station is placed in service, with specific percentages and maximum amounts outlined for different weight categories of vehicles and types of fueling stations. For vehicles placed in service after January 1, 2005, the credit is reduced to 40% of the costs, with corresponding maximums of $2,400, $4,000, and $40,000 based on vehicle weight. Additionally, the bill introduces a new provision allowing a credit of up to $750 for taxpayers who purchase a motor vehicle equipped with an alternative fuel system but do not claim the primary credit.

Furthermore, the bill specifies that the tax credits can be carried over to subsequent tax years if they exceed the taxpayer's income tax liability, with limitations on how long they can be carried over. It also clarifies definitions related to alternative fuels, qualified vehicles, and fueling stations. Notably, the bill repeals the previous version of K.S.A. 79-32,201, indicating a significant overhaul of the existing law. The changes are set to take effect upon publication in the statute book.

Statutes affected:
As introduced: 79-32