Feds give T green for being green
Posted on November 23, 2007
It pays to be green for the MBTA.
This week, the T received a $1.8 million tax credit from the Internal Revenue Service for its use of compressed natural gas.
The T is currently the largest user of CNG in Massachusetts, running 360 buses on the environmentally-friendly fuel.
The tax credit program, which was certified by Congress last year and is expected to last three years, will translate into $7.4 million in tax credits for the authority over three years, according to MBTA General Manager Daniel Grabauskas.
“This is money we did not expect,” said Grabauskas.
He said the T will be expected to submit appropriate paperwork every quarter outlining the authority’s CNG use to qualify for the credit.
The T will receive approximately $600,000 in credits every quarter, Grabauskas said.
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