Sec. 403. EXTENSION OF CREDIT FOR 2- OR 3-WHEELED PLUG-IN ELECTRIC VEHICLES

433 words·~2 min read·/statute-compilations/comps-10390/sec-403

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 403 EXTENSION OF CREDIT FOR 2- OR 3-WHEELED PLUG-IN ELECTRIC VEHICLES ###

(a)In General Section 30D is amended by adding at the end the following new subsection: > > ### “(g) Credit Allowed for 2- and 3-wheeled Plug-in Electric Vehicles > > > #### “(1) In general > > In the case of a qualified 2- or 3-wheeled plug-in electric vehicle— > > > ##### “(A) > > there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of the applicable amount with respect to each such qualified 2- or 3-wheeled plug-in electric vehicle placed in service by the taxpayer during the taxable year, and > > > ##### “(B) > > the amount of the credit allowed under subparagraph

(A)shall be treated as a credit allowed under subsection (a). > > > #### “(2) Applicable amount > > For purposes of paragraph (1), the applicable amount is an amount equal to the lesser of— > > > ##### “(A) > > 10 percent of the cost of the qualified 2- or 3-wheeled plug-in electric vehicle, or > > > ##### “(B) > > $2,500. > > > #### “(3) Qualified 2- or 3-wheeled plug-in electric vehicle > > The term ‘qualified 2- or 3-wheeled plug-in electric vehicle’ means any vehicle which— > > > ##### “(A) > > has 2 or 3 wheels, > > > ##### “(B) > > meets the requirements of subparagraphs (A), (B), (C), (E), and

(F)of subsection (d)(1) (determined by substituting ‘2.5 kilowatt hours’ for ‘4 kilowatt hours’ in subparagraph (F)(i)), > > > ##### “(C) > > is manufactured primarily for use on public streets, roads, and highways, > > > ##### “(D) > > is capable of achieving a speed of 45 miles per hour or greater, and > > > ##### “(E) > > is acquired after December 31, 2011, and before January 1, 2014.” > . ###

(b)Conforming Amendments ####

(1)No double benefit Paragraph

(2)of section 30D(f) is amended— #####

(A)by striking “new qualified plug-in electric drive motor vehicle” and inserting “vehicle for which a credit is allowable under subsection (a)”, and #####

(B)by striking “allowed under subsection (a)” and inserting “allowed under such subsection”. ####

(2)Air quality and safety standards **[**[26 U.S.C. 30D](/us/usc/t26/s30D)**]** Section 30D(f)(7) is amended by striking “motor vehicle” and inserting “vehicle”. ###

(c)Effective Date **[**[26 U.S.C. 30D note](/us/usc/t26/s30D)**]** The amendments made by this section shall apply to vehicles acquired after December 31, 2011.

Connections1 off-index

1 reference not yet in our index

26 USC 30D

Citation graph

cites case law

Sec. 403

EXTENSION OF CREDIT FOR 2- OR 3-WHEELED PLUG-IN ELECTRIC VEHICLES

Cite26 USC 30D

Cites 1Cited by 0 across 0 sources