Section 1 of the bill creates a new refundable income tax credit for income tax years commencing on and after January 1, 2024, but before January 1, 2033, for the purchase or lease of electric-powered aviation ground support equipment that is purchased or leased to replace similar models of gas-powered or diesel-powered aviation ground support equipment in the amount of 18% of the actual cost to purchase the equipment that may be claimed by a qualifying taxpayer; except that the total amount of credits available to be claimed is $250,000 in each tax year and is available on a first come, first served basis. A qualifying taxpayer is an aviation business, an airport, or a fixed base operator. Only one tax credit may be claimed per individual piece of equipment. Section 2 creates a new refundable income tax credit for income tax years commencing on and after January 1, 2024, but before January 1, 2033, for an investment made by a qualified investor in a qualified business that researches, develops, or produces alternative aviation fuels or alternative aircraft powerplants in the amount of 30% of the investment; except that the total amount of credits available to be claimed is capped for each tax year for which the credit is allowed and is available on a first come, first served basis. The investment must be used by the qualified business in furtherance of research, development, or production of alternative aviation fuels or alternative aircraft powerplants. The executive director of the department of revenue is authorized to promulgate rules to implement the tax credit, including precertification of a business as a qualified business eligible to receive a qualified investment.(Note: This summary applies to this bill as introduced.)