Light-Duty Motor Vehicle Purchase or Lease Incentive Program to Be Reinstated
Future alternative fuel vehicle (AFV) drivers in Texas can look forward to saving a little more on their vehicle purchase or lease thanks to the recently passed Senate Bill 1731, which includes the re-establishment of the Light-Duty Motor Vehicle Purchase or Lease Incentive Program (LDMVP). The program will offer $2,500 for the purchase of new electric vehicles (EVs), $5,000 for the purchase of compressed natural gas (CNG) or liquefied petroleum gas vehicles (LPG). Incentives are also available in pro-rated amounts based on a three-year lease term, for up to 2,000 EVs and up to 1,000 CNG/LPG vehicles per state fiscal biennium. Implementation of the program is pending rulemaking to determine administrative and accounting details, including whether the incentive may be applied retroactively.