AN ACT relating to electric vehicles and making an appropriation therefor.

Create new sections of KRS Chapter 138 to define terms; establish an excise tax on electric vehicle power dealers for power distributed to electric vehicles; set initial base of three cents per kilowatt hour; subject tax to annual adjustment; require annual notification to electric vehicle power dealers of the adjusted rate of the excise tax on electric vehicle power for each upcoming fiscal year and annual notification to county clerks of the adjusted rate of highway user fees for electric and hybrid vehicles; provide a mechanism for annual adjustment of the excise tax based on changes in the National Highway Construction Cost Index 2.0; allow the taxes to increase no more than ten percent or decrease no more than two percent from one year to the next, subject to the statutory minimums; create a new section of KRS Chapter 186 to establish base electric and hybrid vehicle road usage fees for electric and hybrid vehicles; require collection of the fees at the time of initial registration and upon renewal; require the fees to be adjusted in the same manner as for electric vehicle power excise taxes; require the fee be transferred to the road fund; amend KRS 186.010 to define "electric vehicle" and "hybrid vehicle"; amend KRS 186.050 to require payment of the highway user fees for electric vehicles and hybrid vehicles at the time of registration or renewal; provide that the Act may be cited as the EV Vehicle Road Usage Tax Act; EFFECTIVE January 1, 2023; APPROPRIATION.