On Saturday, May 13, Abbott signed a legislative proposal into law that will impose a new tax on electric car owners.
Per the new law, those registering electric cars in Texas will be required to pay an initial $400 fee, with a recurring $200 annual renewal. The law goes into effect on September 1, and does not apply to other electric vehicles, nor does it apply to gas or hybrid cars.
The bill, Senate Bill 505, passed easily with bipartisan support. House Rep. Terry Canales, a Democrat from Hidalgo County in South Texas, sponsored SB 505.
“This is extremely important to make sure people are paying their fair share and that we have adequate funding for the preservation and maintenance of our highways in the future,” Canales said last month during debates over the bill.
As first reported by the Dallas Morning News and supported by data from the Dallas-Fort Worth Clean Cities Coalition, Texas has more than 195,000 electric vehicles and has added nearly 36,000 in 2023.
The revenue goes to the state highway fund, with a portion going to Texas schools. According to the DMN report, $38 million is expected via the tax on electric vehicles, compared to $3.8 billion in gas and diesel taxes for 2024.
No word yet from Musk on the tax, who was busy earlier this week comparing George Soros to an X-Men villain.
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