Sec. 13404. Alternative fuel refueling property credit
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/bill/117/hr/5376/eas/section-13404·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 30C(g) is amended by striking December 31, 2021 and inserting December 31, 2032 . Section 30C(a) is amended by inserting (6 percent in the case of property of a character subject to depreciation) after 30 percent . Subsection
(b)of section 30C is amended— in the matter preceding paragraph (1)— by striking with respect to all and inserting with respect to any single item of , and by striking at a location , and in paragraph (1), by striking $30,000 in the case of a property and inserting $100,000 in the case of any such item of property . Section 30C(c) is amended to read as follows: For purposes of this section— The term qualified alternative fuel vehicle refueling property has the same meaning as the term qualified clean-fuel vehicle refueling property would have under section 179A if— paragraph
(1)of section 179A(d) did not apply to property installed on property which is used as the principal residence (within the meaning of section 121) of the taxpayer, and only the following were treated as clean-burning fuels for purposes of section 179A(d): Any fuel at least 85 percent of the volume of which consists of one or more of the following: ethanol, natural gas, compressed natural gas, liquified natural gas, liquefied petroleum gas, or hydrogen. Any mixture— which consists of two or more of the following: biodiesel (as defined in section 40A(d)(1)), diesel fuel (as defined in section 4083(a)(3)), or kerosene, and at least 20 percent of the volume of which consists of biodiesel (as so defined) determined without regard to any kerosene in such mixture. Electricity. Property shall not fail to be treated as qualified alternative fuel vehicle refueling property solely because such property— is capable of charging the battery of a motor vehicle propelled by electricity, and allows discharging electricity from such battery to an electric load external to such motor vehicle. . Section 30C is amended by redesignating subsections
(f)and
(g)as subsections
(g)and (h), respectively, and by inserting after subsection
(e)the following: For purposes of this section— The term qualified alternative fuel vehicle refueling property includes any property described in subsection
(c)for the recharging of a motor vehicle described in paragraph (2), but only if such property— meets the requirements of subsection (a)(2), and is of a character subject to depreciation. A motor vehicle is described in this paragraph if the motor vehicle— is manufactured primarily for use on public streets, roads, or highways (not including a vehicle operated exclusively on a rail or rails), has 2 or 3 wheels, and is propelled by electricity. . Section 30C, as amended by this section, is further amended by redesignating subsections
(g)and
(h)as subsections
(h)and
(i)and by inserting after subsection
(f)the following new subsection: In the case of any qualified alternative fuel vehicle refueling project which satisfies the requirements of subparagraph (C), the amount of the credit determined under subsection
(a)for any qualified alternative fuel vehicle refueling property of a character subject to an allowance for depreciation which is part of such project shall be equal to such amount (determined without regard to this sentence) multiplied by 5. For purposes of this subsection, the term qualified alternative fuel vehicle refueling project means a project consisting of one or more properties that are part of a single project. A project meets the requirements of this subparagraph if it is one of the following: A project the construction of which begins prior to the date that is 60 days after the Secretary publishes guidance with respect to the requirements of paragraphs (2)(A) and (3). A project which satisfies the requirements of paragraphs (2)(A) and (3). The requirements described in this subparagraph with respect to any qualified alternative fuel vehicle refueling project are that the taxpayer shall ensure that any laborers and mechanics employed by the taxpayer or any contractor or subcontractor in the construction of any qualified alternative fuel vehicle refueling property which is part of such project shall be paid wages at rates not less than the prevailing rates for construction, alteration, or repair of a similar character in the locality in which such project is located as most recently determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code. Rules similar to the rules of section 45(b)(7)(B) shall apply. Rules similar to the rules of section 45(b)(8) shall apply. The Secretary shall issue such regulations or other guidance as the Secretary determines necessary to carry out the purposes of this subsection, including regulations or other guidance which provides for requirements for recordkeeping or information reporting for purposes of administering the requirements of this subsection. . Subsection
(c)of section 30C , as amended by subsection (b)(3), is amended by adding at the end the following: Property shall not be treated as qualified alternative fuel vehicle refueling property unless such property is placed in service in an eligible census tract. For purposes of this paragraph, the term eligible census tract means any population census tract which— is described in section 45D(e), or is not an urban area. For purposes of clause (i)(II), the term urban area means a census tract (as defined by the Bureau of the Census) which, according to the most recent decennial census, has been designated as an urban area by the Secretary of Commerce. . Except as provided in paragraph (2), the amendments made by this section shall apply to property placed in service after December 31, 2022. The amendments made by subsection
(a)shall apply to property placed in service after December 31, 2021.