Pittsburgh Business Times – Monday, February 06, 2012
Not to be confused with the Nat Gas Act, now there’s the NGEAR Act, or Natural Gas Energy and Alternatives Rewards, introduced today by U.S Senator Bob Casey of Pennsylvania.
Casey is in Pittsburgh today, announcing the legislation at EQT's compressed natural gas station in the Strip District.
The bill aims to extend/establish three incentive programs through Dec. 31, 2016:
1.A tax credit for up to 30 percent, with a $15,000 cap, for the purchase of alternative fueled school buses or public transit vehicles.
2.The tax credit for 50 cents per gallon for owners of alternative fuel vehicles.
3.A tax credit of up to 30 percent, with a $30,000 cap, for the cost of alternative fuel infrastructure, such as fueling stations. This exempts residential installations.
John Rizzo, Casey’s press secretary, said there is no funding mechanism built into the bill and the Senator is waiting for the Congressional Budget Office to come up with a cost estimate for the legislation before proposing a way to fund it.
This article was first published
Pittsburgh Business Times.