Georgia’s $5,000 tax credit for purchased of electric vehicles is getting unplugged on June 30.
That’s when new legislation takes effect that ends the per-vehicle tax credit and also imposes a $200 yearly registration fee on zero-emission vehicles.
That double-whammy has some car-buyers faced with the decision to take advantage of the expiring credit in the next week or hang tight for a new class of electric vehicles with supercharged battery life expected to roll off the assembly lines within the next few years.
Car dealers are trying to make the most of impending deadline. Many have unleashed screaming advertisements urging shoppers to buy now before the tax credit disappears. (A $7,500 federal tax credit on the cars will still remain intact).
The program’s supporters said it helped reduce pollution and smog in Georgia and made the state a haven for electric vehicles. Tim Echols, a Public Service Commissioner, also called it a “millennial magnet” that helped attract the best and brightest to Atlanta.
But the projected $50 million pricetag proved enticing for lawmakers looking for ways to raise about $1 billion in new revenue for transportation.
State Rep. Chuck Martin, the Alpharetta Republican who championed the change, said it would be misguided for the state to continue a program that would “let a select group of 10,000 or more individuals drive a particular type of car for free or almost free.”