1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 4.00 out of 5)
Loading...

Hybrid Drivers May Get Break on Sales Tax

Posted on February 17, 2009
Filed Under Government, Tax Information | Leave a Comment

hybridlogoColoradans looking to buy a fuel-efficient vehicle may have thousands of dollars of reasons in the future to do so. State lawmakers will take up a measure later this week that, in part, would repeal the sales tax on any vehicle that gets more than 40 miles per gallon.

“It helps the environment and is the responsible thing to do,” said Rep. Cory Gardner (R-Yuma), who is the sponsor of House Bill 1268. “It creates and stimulates car purchases. If you reduce the price of a vehicle, if you reduce the price of something somebody has wanted to go buy but couldn’t afford to do it, then they’ll go out and buy it. It creates economic activity, develops opportunities at the car dealership and puts new money into the economy.”

HB 1268 is a comprehensive energy measure that also seeks to add incentives to transforming landfill waste into energy, expands opportunities for nuclear energy, directs state government to create carbon sequestration and geothermal development on public lands and helps with the financing of alternative fuel businesses. Provisions of the measure would be delayed if the economic conditions did not allow for new money to be spent.

Gardner said the sales tax removal from an efficient vehicle purchase is one of the bill’s most popular features.

“It’s not relying on the government,” Gardner said. “That’s not relying on bailout money.”

House Bill 1268 is up for a public hearing in the House Transportation Committee on Thursday morning.

For more information on House Bill 1268, visit http://www.leg.state.co.us/Clics/CLICS2009A/csl.nsf/fsbillcont3/15A40E37B02CF56187257537001A3B8F?Open&file=1268_01.pdf.

Related Posts:

Fatal error: Uncaught Error: Call to undefined function related_posts() in /homepages/15/d211799029/htdocs/MIXEDPOWER/wp-content/themes/ultimateblogger/index.php:25 Stack trace: #0 /homepages/15/d211799029/htdocs/MIXEDPOWER/wp-settings.php(431): include_once() #1 /homepages/15/d211799029/htdocs/MIXEDPOWER/wp-includes/template-loader.php(75): wp_safe_load('/homepages/15/d...') #2 /homepages/15/d211799029/htdocs/MIXEDPOWER/wp-blog-header.php(19): require_once('/homepages/15/d...') #3 /homepages/15/d211799029/htdocs/MIXEDPOWER/index.php(17): require('/homepages/15/d...') #4 {main} thrown in /homepages/15/d211799029/htdocs/MIXEDPOWER/wp-content/themes/ultimateblogger/index.php on line 25