Electric vehicle charging station tax credit bill advances

TRENTON – The Assembly Appropriations Comittee released a bill this morning that would provide corporation business tax credits and gross income tax credits to buy and install electric vehicle charging stations.

The credits would be up to $500 in 2012, $300 in 2013 and $150 to 2014. Married taxpayers filing separately are allowed up to half of those amounts, according to the bill, A566.

An applicant must apply to the Department of Environmental Protection to receive certification that the charging station purchased and installed by the taxpayer is a qualified electric vehicle charging station.

Doug Stansfield, who runs a business that makes electric vehicle stations, said the bill will help increase the number of stations and generate support for electric vehicles. He described it as “a revenue-neutral bill.”

He estimates there are about 500 such vehicles currently on the road in New Jersey

The New Jersey Electric Auto Association also supports the bill

Sierra Club Executive Director Jeff Tittel said now is the time to invest in this to make sure New Jersey is well-positioned in the future for electric vehicle car usage.

“We need to develop this network,” Tittel said.

However, Assembly members Gary Chiusano and Alison McHose voted no on the bill.

Chiusano said he believes the state government and taxpayers should not pay for this, saying there’s plenty of interest from the venture capital community on this subject. 

Electric vehicle charging station tax credit bill advances