Covering Louisiana
Alternative fuel tax break regulations considered
Posted: Oct 25, 2012 11:23 AM by AP
BATON ROUGE, La. (AP) - The revenue department will decide by next week whether to make changes to proposed regulations that spell out limits on the state's alternative fuel vehicle tax credit.
The tax break program's cost has grown much larger than estimated and become a headache for Gov. Bobby Jindal's administration because of differing interpretations about what should be included.
Proposed regulations would limit the tax credit program costs to an estimated $10 million, higher than initial projections but far less than analysts suggest the current law could cost. The regulations put forward by the Jindal administration would eliminate "flex-fuel vehicles" from being eligible for the tax break.
Comments have been lodged by people who want the regulations rewritten. The department will determine whether to make changes by a Nov. 1 submission to lawmakers.
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