March 6, 2012
(Denver) – The House passed a bill this morning to help Coloradans who lease Toyota Priuses or other hybrid vehicles and have run into hassles with their finance agencies over who gets to claim the federal innovative motor vehicle tax credit.
HB12-1299 is the first bill sponsored by Rep. Jonathan Singer (D-Longmont) to win House approval. Today’s vote was 50-14.
The bill specifies that it is the motor vehicle lessee, not the automobile finance agency, who gets to claim the innovative motor vehicle tax credit. Currently, the state gives the bank the option of claiming the credit or passing it to the lessee. Numerous Prius lessees have complained that salespeople promised them the credit, which runs about $2,500, only to run into resistance later from the finance agency.