All of Maryland’s currently-allotted tax-credit funding for plug-in electric and fuel cell vehicles has already run out for the upcoming fiscal year, according to a note published this week by the state Motor Vehicle Administration. The state is informing dealers that they must make their customers aware that the tax credit may not be available to them, if no additional funding is authorized.
According to the bulletin, which you can read here, the state has already received enough requests to deplete $6 million worth of tax credits for a fiscal year that doesn’t even begin until July 1. The funding issue notwithstanding, the $3,000 credit is available to Marylanders who purchase a new plug-in electric or fuel cell vehicle and register it in the state.
The funds for Fiscal Year 2019 ran out last November, and the state has held off on processing new tax credit requests since that time. Maryland will process tax credits again beginning on July 1 for those who have already applied for them, in chronological order from the time that the applicant submitted their credit request to the state.
For more information, dealers are encouraged to contact the MVA’s Refund Department at 410-768-7346.Download Bulletin PDF