118th Congress Taxation
H.R. 5656: Michael F. Donoughe Tax Credit for Off Road Electric Vehicles Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill expands the clean vehicle tax credit to include new qualified off-road plug-in electric vehicles. The amount of the tax credit allowed for a new qualified off-road plug-in electric vehicle is 10% of the cost of the vehicle or $2,500, whichever is lower.
The bill defines a new qualified off-road plug-in electric vehicle as any vehicle that
- is acquired new and for use by the taxpayer;
- is made by a qualified manufacturer;
- is powered by an electric motor that draws electricity from a battery with a capacity of at least six kilowatt hours;
- has final assembly occurring in North America;
- has a dry weight of less than 3,500 pounds;
- has three or more wheels;
- has one or more seats;
- is manufactured primarily for off-road use;
- is designed for use on rough terrain and, except in the case of a vehicle designed to operate on land and water, is not designed to operate on rails, in the air, or in or on the water; and
- is capable of reaching a speed of 40 miles per hour.
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Under current law, a qualified manufacturer is any manufacturer that has a written agreement with the Internal Revenue Service and submits reports containing information about each eligible clean vehicle.
Finally, the bill allows the tax credit for a new qualified off-road plug-in electric vehicle to be transferred from the taxpayer to an eligible entity (e.g., vehicle dealer) in exchange for a financial benefit (e.g., rebate).
Written by the Congressional Research Service, Library of Congress.
Roll calls
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Amendments
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Other bills by Dean Phillips
History
- Introduced in the House by Dean Phillips.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.