Mississippi legislation · 2026 Regular Session
Mississippi HB119: Income tax; authorize credit for investments in qualified clean-burning motor vehicle fuel property.
Status: Failed, February 25, 2026
AN ACT TO PROVIDE AN INCOME TAX CREDIT FOR A PERCENTAGE OF THE COST OF INSTALLING NEW ALTERNATIVE FUELING INFRASTRUCTURE FOR CERTAIN ALTERNATIVE FUELS; TO PROVIDE AN INCOME TAX CREDIT FOR A PERCENTAGE OF THE COST OF INSTALLING A RESIDENTIAL COMPRESSED NATURAL GAS FUELING SYSTEM; TO DEFINE CERTAIN TERMS USED IN THIS ACT; TO PRESCRIBE THE MAXIMUM AMOUNT OF THE ONE-TIME CREDIT, BASED ON THE TYPE OF QUALIFIED CLEAN-BURNING MOTOR VEHICLE FUEL PROPERTY, WHICH MAY BE CLAIMED IN A TAXABLE YEAR; TO PROVIDE THAT ANY UNUSED PORTION OF THE CREDIT MAY BE CARRIED FORWARD FOR THE SUCCEEDING FIVE TAX YEARS; AND FOR RELATED PURPOSES.
What the bill says
An act to provide an income tax credit for a percentage of the cost of installing new alternative fueling infrastructure for certain alternative fuels; to provide an income tax credit for a percentage of the cost of installing a residential compressed natural gas fueling system; to define certain terms used in this act; to prescribe the maximum amount of the one-time credit, based on the type of qualified clean-burning motor vehicle fuel property, which may be claimed in a taxable year; to provide that any unused portion of the credit may be carried forward for the succeeding five tax years…
From the introduced text:
AN ACT TO PROVIDE AN INCOME TAX CREDIT FOR A PERCENTAGE OF THE COST OF INSTALLING NEW ALTERNATIVE FUELING INFRASTRUCTURE FOR CERTAIN ALTERNATIVE FUELS; TO PROVIDE AN INCOME TAX CREDIT FOR A PERCENTAGE OF THE COST OF INSTALLING A RESIDENTIAL COMPRESSED NATURAL GAS FUELING SYSTEM; TO DEFINE CERTAIN TERMS USED IN THIS ACT; TO PRESCRIBE THE MAXIMUM AMOUNT OF THE ONE-TIME CREDIT, BASED ON THE TYPE OF QUALIFIED CLEAN-BURNING MOTOR VEHICLE FUEL PROPERTY, WHICH MAY BE CLAIMED IN A TAXABLE YEAR; TO PROVIDE THAT ANY UNUSED PORTION OF THE CREDIT MAY BE CARRIED FORWARD FOR THE SUCCEEDING FIVE TAX YEARS; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. (1) As used in this section, the following words and phrases have the meanings ascribed in this subsection unless the context clearly indicates otherwise: (a) "Qualified clean-burning motor vehicle fuel property" means any one of the following: (i) Equipment installed to modify a motor vehicle that is propelled by gasoline or diesel fuel so that the vehicle may be propelled by compressed natural gas, liquefied natural gas, liquefied petroleum gas or propane gas. The equipment covered by this subparagraph (i) must: *HR31/R166* H. B. No. 119 ~ OFFICIAL ~ R3/5 26/HR31/R166 PAGE 1 (BS\JAB) 1. Be new, not have been used previously to …