Dan Gage, President of NGVAmerica, released the following statement in regards to the extension of CNG incentives for vehicles and stations in Oklahoma:
“NGVAmerica applauds Governor Stitt for signing HB2095, the Clean Transportation Reform and Modernization Act of 2019. This will ensure that Oklahoma will consistently lead the country in supporting natural gas vehicles as the best path to build demand for an Oklahoma-produced product, clean the environment through targeting the highest mileage and dirtiest vehicles, and to provide economic benefit to the state and its constituents.
“The bill received industry-wide support from public, private and non-profit sectors that understand the need for this crucial infrastructure and the use of natural gas vehicles. With no expectation of increased state expenditures and no impact to state revenue as proven by the Oklahoma Tax Commission, we look forward to highlighting Oklahoma’s efforts as a model for the rest of the country to follow.”
Authored by state Rep. Terry O’Donnell, R-Catoosa; state Rep. Mark McBride, R-Moore; state Rep. Scott Fetgatter, R-Okmulgee; and state Sen. Stephanie Bice, R-Oklahoma City, House Bill 2095 is known as the Clean Transportation Reform and Modernization Act of 2019. It amends existing credits for investments in cleaner-burning CNG/LNG vehicle (converted or new) property, extending them from 2020 to 2027, and setting caps.
The law sets a maximum one-time income tax credit for qualified vehicles based on weight: $5,500 for vehicles 6,000 pounds or less, $9,000 for vehicles between 6,001 and 10,000 pounds, $26,000 for vehicles between 10,001 and 26,500 pounds and $50,000 for vehicles 26,501 pounds and above.
It also decreases the per-location credit for the cost of CNG refueling infrastructure from 75% to 45%.