(AP) — A Senate committee has approved a tax break for individuals or companies that convert vehicles so they burn so-called “clean-burning” fuels instead of gasoline.
The Senate’s Revenue and Fiscal Affairs Committee on Tuesday night approved Rep. Jane Smith’s bill that would increase an existing 20 percent tax credit to 50 percent of the costs of equipment related to the conversion. The Bossier City Republican argued that Louisiana should lead in this area, considering its a state rich with natural gas.
The bill would apply to equipment purchases relating to natural gas, biofuels, biodiesel and electricity.—-Contact The Daily Reveille’s news staff at [email protected]