Massachusetts 2023-2024 Regular Session

Massachusetts House Bill H4004 Compare Versions

Only one version of the bill is available at this time.

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2	2	HOUSE DOCKET, NO. 4421 FILED ON: 6/26/2023
3	3	HOUSE . . . . . . . . . . . . . . . No. 4004
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Angelo J. Puppolo, Jr.
8	8	_________________
9	9	To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
10	10	Court assembled:
11	11	The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
12	12	An Act relative to establishing an income tax credit for purchase of zero-emission and hybrid
13	13	mobile machinery.
14	14	_______________
15	15	PETITION OF:
16	16	NAME:DISTRICT/ADDRESS :DATE ADDED:Angelo J. Puppolo, Jr.12th Hampden6/26/2023 1 of 3
17	17	HOUSE DOCKET, NO. 4421 FILED ON: 6/26/2023
18	18	HOUSE . . . . . . . . . . . . . . . No. 4004
19	19	By Representative Puppolo of Springfield, a petition (subject to Joint Rule 12) of Angelo J.
20	20	Puppolo, Jr., for legislation to establish an income tax credit for zero-emission and hybrid mobile
21	21	machinery. Revenue.
22	22	The Commonwealth of Massachusetts
23	23	_______________
24	24	In the One Hundred and Ninety-Third General Court
25	25	(2023-2024)
26	26	_______________
27	27	An Act relative to establishing an income tax credit for purchase of zero-emission and hybrid
28	28	mobile machinery.
29	29	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
30	30	of the same, as follows:
31	31	1 SECTION 1. Section 6 of chapter 62 of the General Laws, as appearing in the most
32	32	2recent edition, is hereby amended by adding at the end thereof the following new subsection:-
33	33	3 (1) As used in this subsection, the following words shall, unless the context clearly
34	34	4requires otherwise, have the following meanings:-
35	35	5 “Eligible taxpayer”, a person that (a) has a place of business located in the
36	36	6commonwealth (b) the principal business of which is the rental or leasing of tangible personal
37	37	7property to the general public and (c) derives at least 51% of the person’s annual gross revenue
38	38	8from the rental or lease of tangible personal property to the general public.
39	39	9 “Hybrid mobile machinery”, mobile machinery that is a qualified commercial clean
40	40	10vehicle under section 45W of the Internal Revenue Code and is capable of drawing energy from 2 of 3
41	41	11(a) gasoline, diesel , propane, natural gas, or other fuels intended to be used in an internal
42	42	12combustion engine and (b) a rechargeable energy storage system
43	43	13 “Mobile machinery”, has the meaning stated in section 4053(8) of the Internal Revenue
44	44	14Code.
45	45	15 “Zero-emission mobile machinery”, mobile machinery that is a qualified commercial
46	46	16clean vehicle under section 45W of the Internal Revenue Code or evaporative emissions.
47	47	17 “Associated storage infrastructure”, physical storage units or tanks to house alternative
48	48	18fuels or fuel sources, and battery charging equipment to support hybrid mobile machinery and
49	49	19mobile machinery.
50	50	20 (2) subject to the limitations of this subsection, for a taxable year beginning after
51	51	21December 31, 2023, but prior to January 1, 2033, an eligible taxpayer may claim a credit against
52	52	22the state income tax for hybrid mobile machinery, zero-emission mobile machinery, or
53	53	23associated storage infrastructure purchased during the taxable year for use in the eligible
54	54	24taxpayer’s business or for rental or lease to the general public.
55	55	25 (3) the credit allowed under this section shall equal:
56	56	26 (i)with respect to zero-emission mobile machinery, an amount equal to the lessor of
57	57	2730% of the purchase price of the mobile machinery, or $7,500 if the mobile machinery has a
58	58	28gross vehicle weight rating under 14,000 pounds or $15,000 if the mobile machinery has a gross
59	59	29vehicle weight rating of at least 14,000 pounds.
60	60	30 (ii)with respect to hybrid mobile machinery, an amount equal to the lesser of 25% of
61	61	31the purchase price of the mobile machinery, or $7,5,00 if the mobile machinery has a gross 3 of 3
62	62	32vehicle weight rating under 14,000 pounds or $15,000 if the mobile machinery has a gross
63	63	33vehicle weight rating of at least 14,000 pounds.
64	64	34 (iii)With respect to associated storage infrastructure, an amount equal to 30% of total
65	65	35cost, up to $50,000 for every unit installed at each business location or jobsite to support hybrid
66	66	36or zero emission mobile machinery.
67	67	37 (4)(i) The total amount of the credit allowed under this subsection for any taxable year
68	68	38may not exceed the state income tax imposed for the taxable year, calculated before the
69	69	39application of the credits allowed under this subsection.
70	70	40 (ii) if the credit otherwise allowable under this subsection exceeds the limit under (4)(i)
71	71	41of this subsection, an eligible taxpayer may apply the excess as a credit against the state income
72	72	42tax for succeeding taxable years until the full amount of the excess is utilized.