December 18, 2014
On Tuesday night, December 16, the Senate approved legislation sent from the House that extends the life of a number of tax breaks through tax year 2014. Included in the package are a number of credits important to fleets, of which are outlined below.
Alternative Fuel Excise Tax Credit – $.50 per gallon alternative fuel tax credit for compressed natural gas and propane when used as a vehicle fuel.
Biodiesel Production and Blending Tax Credit – Qualified biodiesel producers or blenders are eligible for an income tax credit of $1.00 per gallon of pure biodiesel or renewable diesel produced or used in the blending process.
Alternative Fuel Infrastructure Tax Credit – A 30 percent credit for installing vehicle refueling property for alternative fuel, such as pumps for ethanol or liquefied natural gas.
Bonus Modified Accelerated Cost Recovery System (MACRS), commonly referred to as Bonus Depreciation – allows extra depreciation to be taken for 50 percent of a truck’s purchase price, with an extra bonus depreciation deduction of up to $8,000 for automobiles, light trucks, vans, and SUVs.
President Obama is expected to sign the tax extenders legislation within days. As mentioned, the measure is only applicable to the 2014 tax year, which means the credits will not be renewed for tax year 2015 unless the new Congress takes the matter up again.
NAFA Fleet Management Association | 125 Village Boulevard, Suite 200 | Princeton, NJ 08540
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December 9, 2014
The U.S. House of Representatives on Wednesday voted to approve H.R. 5771, the Tax Increase Prevention Act of 2014, which includes an amendment extending the federal 50-cent per gallon alternative fuels excise tax credits through the remainder of 2014, even though the credits had previously expired at the end of 2013.
These tax credits were made available to individuals, businesses, and other entities that use transportation fuel products such as compressed natural gas (CNG), liquefied natural gas (LNG), and propane autogas.
The alternative fuels excise tax credits are part of many business, individual, and energy tax incentives covered in H.R. 5771, which will next be reviewed by the Senate.
From Green Fleet Magazine
October 7, 2014
Rich Clement/Bloomberg News
Since Florida passed a natural gas-vehicle rebate program, the amount of fueling stations have increased by more than 200%, according to the Florida Natural Gas Vehicle Coalition.
Since 2012, when the state passed the Natural Fuel Gas Vehicle Rebate program, Florida has added 43 compressed natural gas fueling stations with an additional 29 planned, according to the coalition. Currently, there are 61 active CNG stations.
“The fleets in my legislative district, Jacksonville, and its surrounding area have begun the transition to the clean burning American natural gas,” state Rep. Lake Ray said in a statement
September 10, 2014
Thursday, September 16th
3pm ET to 4:30pm ET.
Do you want to learn more about how much a compressed natural gas fueling station costs?
Clean Cities has been working closely with the CNG industry to create a report on the Costs Associated with CNG Vehicle Fueling Infrastructure (PDF file). This document provides an overview of the components of a station, factors that can affect the cost, and ballpark cost ranges. Look for the release of this document in early September.
Also, save the date for a Clean Cities CNG Infrastructure webinar on September 16th from 3-4:30pm ET. Mark Smith from the US Department of Energy and John Gonzales from the National Renewable Energy Lab will present an overview of the key components of a CNG station, how a CNG station works, and factors that affect the cost. Jeremy Talbot from Phoenix Energy will describe the design and costs of a CNG station on the smaller end of the design range. Graham Barker from ANGI Energy Systems will describe the design and costs of a larger CNG station example. During this webinar, participants will have the opportunity to ask questions about the presentations as well as the content of the related CNG infrastructure document.
This webinar is open to the general public, especially those considering CNG, and no pre-registration is required.
Conference number: PW8410847
Audience passcode: 3693493
Participants can join the event directly at:
Participant passcode: 3693493
We recommend using Google Chrome or Firefox to access the webinar. Please be sure to visit this link in advance of the webinar, https://www.mymeetings.com/global/en/mslm_download.php, to make sure all the necessary plug-ins are installed so that your computer can access the webinar software properly.