Sen. Tom Carper (D-Del.), a top ranked member of the Senate Environment and Public Works (EPW) Committee and a member of the Finance Committee Energy Task Force, and Sen. Lamar Alexander (R-Tenn.), chairman of the Senate Health, Education, Labor, and Pensions (HELP) Committee, introduced the Securing America’s Clean Fuels Infrastructure Act.
The act, as stated in a press release from the EPW posted May 14, expands the Alternative Fuel Vehicle Refueling Property Investment Tax Credit (ITC), also known as “30C”, to better encourage private companies to adopt alternate fueling technologies. This includes modifying the ITC to apply per refueling device as opposed to per location and increasing its cap from $30,000 to $200,000 per item.
“Currently, 30C provides a 30 percent ITC for alternative fuel vehicle refueling property, which includes electric charging stations and hydrogen refueling stations,” the release states. “However, 30C expires December 31, 2020 and the credit’s cap is currently too low to adequately incentivize investment in today’s modern refueling infrastructure technologies. To encourage more private investment in clean refueling infrastructure for vehicles that run on fuels other than gasoline, the Securing America’s Clean Fuels Infrastructure Act would increase the cap on business investments, ensure that the ITC can be applied to each item of refueling property – rather than just one location – and extend the tax credit for eight more years.”