Maryland EV Tax Credit Legislation

[bosox8]

Posting as a PSA to Marylander's on this thread: HB1391 extends the expiring EV tax credit of $3,000 when you purchase an EV but reduces eligibility by lowering the maximum cost of the vehicle from $63,000 to $55,000. This means if your vehicle exceeds $55,000 you will get nothing back on the 6% you pay the State for purchasing your vehicle. I emailed all members of the Committee taking up this legislation and surprise, not a single response. My email suggested they take the limit up to $80,000 to match the proposed federal legislation in BBB - I know, probably a moot point but nevertheless they are going in the wrong direction - autos, like everything else, are not less expensive now than they were a year ago. If you are so inclined feel free to email me at cajenkins8@gmail.com and I'll provide you the email addresses of the Committee members.

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[Ruination]

Hmm.

Might have to drop the tow package on the XLT.

 

[Bippers]

Nice to hear Maryland still has an EV credit, I was under the impression it ran out years ago.

 

[Ruination]

Nice to hear Maryland still has an EV credit, I was under the impression it ran out years ago.

It did.

It expired in 2020.

They are trying to renew it and looks like it's favorable to do so right now.

 

[Thepaperlion]

Looks like it went through the house and is now in the senate, i hope it passes!

 

[Ruination]

Sigh, looks like I need to call my dealership tomorrow. Base XLT here I come.

 

[Ruination]

Looks like they took your recommendations to heart and....

Reduced the limit to 50k and also decided it will start July 2023.

 

[bosox8]

Looks like they took your recommendations to heart and....

Reduced the limit to 50k and also decided it will start July 2023.

clown show - about what one should expect - virtue signalling and meaningless

 

[Ruination]

clown show - about what one should expect - virtue signalling and meaningless

I mean, I understand the reasoning, the credit is supposed to help those out on the cusp of affording electric. But, also, trucks are really popular and should be taken into account and the pro doesn't exist.

Also, waiting a year sucks.

 

[Bippers]

Well at least it will be there for those who order a PRO in the future.

 

[beatle]

Credits just help manufacturers. When able to receive credit, the manufacturers raise the price to the point the market will bear, plus whatever credit is available. When the credit disappears, the MSRP drops. Tesla did exactly this when their credit ran out so people paid the same amount out of pocket.

Not that this is inherently wrong. It incentivizes manufacturers to build EVs since they will have fatter margins (or margins at all) that in theory will push more investment into EV building. If that is the motivation of the credit, it's not bad as long as you realize it is not to help out those on the fringe of EV affordability. If they wanted to do that, they'd base the credit on how much income you have and reduce/eliminate it as your income goes up.

 

[tbinmd]

If you are installing EVSE at home, you can apply for a state (MD department of energy) rebate. Installed our EVSE in December and just was approved for the max rebate of $700.

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