Home Transportation Tax Credit Fund for Electric Cars Depleted

Tax Credit Fund for Electric Cars Depleted

55
0

The Motor Vehicle Administration (MDOT MVA) announced that the Vehicle Excise Tax Credit, which has been available to the purchasers of qualified electric and hybrid plug-in vehicles, has been depleted.

Since funding began in July, $3 million in rebates have been requested, which is the full funding allocated by the Maryland Legislature for this fiscal year. Since July 2016, the Vehicle Excise Credit has provided more than $7.2 million in rebates and helped place more than 2,500 electric vehicles on Maryland roadways.

Currently, there are 15,074 registered electric and plug-in hybrid vehicles in operation in the state, which is twice as many two years ago.