A bill working its way through the Iowa Senate would give a tax credit for the construction of fueling stations for vehicles powered with the alternative fuels. Senator Rob Hogg, a Democrat from Cedar Rapids says individuals or companies can claim the credit:
“There are Iowans today who own electric vehicles who are charging them in their garage. And you do not need special equipment to charge an electric vehicle but this would give them the ability to charge it quicker with additional infrastructure or public charging stations,” Hogg say.
Hogg says the cost of fuel for vehicles has been increasing by about 11-percent each year. “I understand people would like to go back to dollar gasoline. (I) don’t think that’s a realistic scenario for the future,” Hogg says.
“So these alternatives are really, really important if you want to meet economic needs and if you want to meet or sort of environmental obligations.” He says some public electric fueling sites are beginning to spring up around the state, and energy companies say they have plans to build more natural gas refueling stations.
The bill provides up to $5-million in tax credits over the next four years that backers say would jumpstart the industry.