Stimulus Plan Gives First Aid to Buildings
Part 1: Stimulus Bill Funds New Energy Grant Programs
Part 2: Stimulus Offers Path to School Modernization Funding
Part 3: Stimulus Gives Billions to GSA for Greening
Part 4: Stimulus Aims to Pop Up Real Estate with Tax Credits
Part 5: Stimulus Builds Surge in Military Construction
Part 6: Stimulus Gives Credit For Efficient Cars
Part 7: School Modernization Funding Breakdown by State
Part 8: Track State Spending of Stimulus Funds
Stimulus Gives Credit For Efficient Cars
By Brandon Lorenz, Senior Editor
April 2009
Facility executives who oversee their organization’s fleet of vehicles should be aware of a tax provision in the stimulus bill meant to promote the purchase of more efficient vehicles.
Taxpayers who purchase a qualified plug-in electric vehicle after Dec. 31 can claim a credit of up to $7,500 per vehicle. The credit is an expanded version of a similar credit in the Emergency Economic Stabilization Act of 2008.
Qualified vehicles are plug-in hybrids with batteries of at least 4 kilowatt hours in capacity. The exact amount of the credit depends on the battery size. Credits begin phasing out after a manufacturer sells 200,000 qualified vehicles.
For organizations that don’t pay taxes, the dealer is allowed to claim the credit, which should reduce the price by an amount equal to the credit, says Charles Goulding, president of Energy Tax Savers, Inc.
