Sec. 214. Incentives for alternative motor vehicles and qualified plug-in electric drive motor vehicles
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/bill/115/s/2165/is/section-214A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon application, the Secretary of the Treasury shall, subject to the requirements of this subsection, provide a grant to each eligible person who places in service a qualified vehicle to reimburse such person for a portion of the expense of such vehicle as provided in paragraph (2). No grant shall be made under this subsection with respect to any vehicle unless such vehicle is placed in service after September 20, 2017. The amount of the grant under paragraph
(1)with respect to any qualified vehicle shall be an amount equal to— in the case of a vehicle described in subparagraph
(A)of paragraph (4), the amount of the credit for such vehicle as determined under subsection
(b)of section 30B of the Internal Revenue Code of 1986, in the case of a vehicle described in subparagraph
(B)of such paragraph, the amount of the credit for such vehicle as determined under subsection (d)(2)(A) of such section, in the case of a vehicle described in subparagraph
(C)of such paragraph, the amount of the credit for such vehicle as determined under subsection (i)(1) of such section, in the case of a vehicle described in subparagraph
(D)of such paragraph, the amount of the credit for such vehicle as determined under subsection
(b)of section 30D of the Internal Revenue Code of 1986, except that in applying paragraph
(3)of such subsection, $7,500 shall be substituted for $5,000 , and in the case of a vehicle described in subparagraph
(E)of such paragraph, the applicable amount for such vehicle as determined under subsection (g)(2) of such section. For purposes of subparagraph (A), in determining the amount of the credit under section 30B or 30D of the Internal Revenue Code of 1986, as applicable, such determination shall be made without regard to any termination date under such section. The Secretary of the Treasury shall make payment of any grant under paragraph
(1)during the 60-day period beginning on the later of— the date of the application for such grant, or the date the qualified vehicle for which the grant is being made is placed in service. For purposes of this subsection, the term qualified vehicle means— any new qualified fuel cell motor vehicle, as defined in subsection (b)(3) of section 30B of the Internal Revenue Code of 1986, any new qualified hybrid motor vehicle, as defined in subsection (d)(3) of such section, which is a passenger automobile or light truck and which has a gross vehicle weight rating of not more than 8,500 pounds, any motor vehicle which is converted to a qualified plug-in electric drive motor vehicle, as described in subsection (i)(1) of such section, any new qualified plug-in electric drive motor vehicle, as defined in subsection (d)(1) of section 30D of the Internal Revenue Code of 1986, and any qualified 2- or 3-wheeled plug-in electric vehicle, as defined in subsection (g)(3) of such section. For purposes of this subsection, the term eligible person means— any individual that is a bona fide resident (as defined under section 937 of the Internal Revenue Code of 1986) of Puerto Rico or the Virgin Islands, and any corporation which is organized under the laws of Puerto Rico or the Virgin Islands. Any reference in this subsection to the Secretary of the Treasury shall be treated as including the Secretary's delegate. For fiscal year 2018, there is hereby appropriated to the Secretary of the Treasury $16,800,000, to remain available until expended, to carry out the purposes of this section.