Attorney General No.
Secretary of State No.
INCOME TAX CREDIT AND SALES TAX EXEMPTION FOR ELECTRIC VEHICLE. INITIATIVE STATUTE. Establishes one-time income tax credit for California residents, corporations, and businesses purchasing any electric powered vehicle or conversion kit to electric vehicle for primary personal or business use. Establishes the income tax credit for original purchaser only, equal to fifty percent of original purchase price. Exempts original purchaser from sales tax and registration fees. Authorizes credit to be deferred for use for up to ten years. Authorizes credit until the earlier of ten years or until ten million electric vehicles are registered in California. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure would result in annual reductions in state revenues ranging from less than $10 million to potentially over $1 billion.
Mike Mathiesen The Unlearning Foundation, 444 Meder Street, Santa Cruz, Ca 95060 (408) 423-8580
Failed to Qualify
Income Tax Credit And Sales Tax Exemption For Electric Vehicle. California Initiative 810 (1998).