GLEN BURNIE - The Maryland Department of Transportation’s Motor Vehicle Administration (MDOT MVA) today announced that the Vehicle Excise Tax Credit made possible by the Maryland State Legislature and available to the purchasers of qualified electric and hybrid plug-in vehicles has been depleted. The tax credit has been immensely popular with Maryland consumers.
“We are pleased that this tax credit has led to more electric and plug-in hybrid vehicles on Maryland roadways than ever before,” said MDOT MVA Administrator Chrissy Nizer.
Governor Larry Hogan is committed to fully funding the Plug-In Electric Vehicle Excise Tax Credit in next year’s budget, pending legislative approval. This commitment is part of the Hogan Administration’s pledge to make the purchase and use of electric vehicles more affordable and convenient, encouraging Maryland consumers and businesses to invest in this environmentally-friendly mode of travel.
Since funding of the fiscal year 2019 program began in July, $3 million in rebates have been requested, which is the full funding allocated by the legislature for this fiscal year. Since July 2016, the Vehicle Excise Credit has provided more than $7.2 million in rebates and helped place more than 2,500 electric vehicles on Maryland roadways.
The monies for the Vehicle Excise Tax Credit was included in the Maryland Clean Cars Act of 2017. The legislation allows a tax credit of up to $3,000 for electric and plug-in hybrid vehicles with a sale price up to $60,000. During the 2017 legislative session, funding for the Plug-In Electric Vehicle Tax Credit program was increased by more than 30 percent.
Maryland is committed to realizing the significant benefits of EVs. Currently there are 15,074 registered electric and plug-in hybrid vehicles in Maryland. Over the past two years, the number of registered EVs in Maryland have doubled. Maryland is also committed to ensuring our infrastructure is available to support EVs. Since 2015, the number of EV charging stations in Maryland have increased 35 percent. EVs reduce fossil fuel consumption, decrease greenhouse gas emissions, and are critical in helping to reduce pollution and create cleaner air for all Marylanders.