Sec. 112. Deployment of electric vehicles through tax credits
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Subsection
(e)of section 30D of the Internal Revenue Code of 1986 is amended to read as follows: In the case of any new qualified plug-in electric drive motor vehicle sold after the date of the enactment of the Clean Energy Innovation and Deployment Act of 2020 — if such vehicle is sold during the transition period, the amount determined under subsection (b)(2) shall be reduced by $500, and if such vehicle is sold during the phaseout period, only the applicable percentage of the credit otherwise allowable under subsection
(a)shall be allowed. For purposes of this subsection, the transition period subsequent to the first date on which the number of new qualified plug-in electric drive motor vehicles manufactured by the manufacturer of the vehicle referred to in paragraph
(1)sold for use in the United States after December 31, 2009, is at least 200,000. For purposes of this subsection, the phaseout period is the period beginning with the second calendar quarter following the calendar quarter which includes the first date on which the number of new qualified plug-in electric drive motor vehicles manufactured by the manufacturer of the vehicle referred to in paragraph
(1)sold for use in the United States after December 31, 2009, is at least 600,000. For purposes of paragraph (1)(B), the applicable percentage is— 50 percent for the first calendar quarter of the phaseout period, and 0 percent for each calendar quarter thereafter. For purposes of subparagraph (A), any new qualified plug-in electric drive motor vehicle manufactured by the manufacturer of the vehicle referred to in paragraph
(1)which was sold during the exclusion period shall not be included for purposes of determining the number of such vehicles sold. For purposes of this subparagraph, the exclusion period is the period— beginning on the first date on which the number of new qualified plug-in electric drive motor vehicles manufactured by the manufacturer of the vehicle referred to in paragraph
(1)sold for use in the United States after December 31, 2009, is at least 200,000, and ending on the date of the enactment of the Clean Energy Innovation and Deployment Act of 2020. Rules similar to the rules of section 30B(f)(4) shall apply for purposes of this subsection. . Section 30B(k)(1) of the Internal Revenue Code of 1986 is amended by striking December 31, 2020 and inserting December 31, 2028 . The amendments made by this section shall apply to property purchased after the date of the enactment of this Act.