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Relating to the light-duty motor vehicle purchase or lease incentive program.
Estimated Two-year Net Impact to General Revenue Related Funds for HB2577, Committee Report 1st House, Substituted : an impact of $0 through the biennium ending August 31, 2023.
However, there would be revenue gains to the State Highway Fund that would be realized from owners of light-duty electric vehicles receiving incentives and remitting $750 under the provisions of the bill. The portion of those gains that would be realized from the owners of electric motorcycles are not included in the table below because the number of owners is unknown and the amount that would be remitted cannot be estimated.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
HB 2577 would expand the light duty motor vehicles purchase or lease incentive program to make qualified electric motorcycles eligible for the $2,500 incentive offered by the program. This bill excludes motor-assisted scooters, pocket bikes, and minimotorbikes from the program. This bill requires that a person receiving this incentive remit $750 to the comptroller to deposit in the state highway fund and that funds deposited in the state highway fund must be used in compliance with allowable uses in the Texas Constitution regarding the state highway fund.
Texas Action opposes HB 2577 as this bill interferes with the free market by distorting incentives and and expands an unnecessary government program.