To amend the Internal Revenue Code of 1986 to establish a new phaseout of the credit for plug-in electric drive motor vehicles.

This bill amends the Internal Revenue Code, with respect to the tax credit for new plug-in electric drive motor vehicles, to change the phase-out period for the credit to the period beginning with calendar year 2022.

(Under current law, the credit phases out for a manufacturer's vehicles over the one-year period beginning with the second calendar quarter after the calendar quarter in which at least 200,000 qualifying vehicles manufactured by that manufacturer have been sold for use in the United States after December 31, 2009.)

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7065 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 7065

To amend the Internal Revenue Code of 1986 to establish a new phaseout 
        of the credit for plug-in electric drive motor vehicles.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 16, 2018

   Mrs. Black (for herself, Mr. Holding, and Mr. Bishop of Michigan) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to establish a new phaseout 
        of the credit for plug-in electric drive motor vehicles.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PHASEOUT OF NEW QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR 
              VEHICLE CREDIT.

    (a) In General.--Section 30D(e) of the Internal Revenue Code of 
1986 is amended--
            (1) in the heading, by striking ``Limitation on Number of 
        New Qualified Plug-in Electric Drive Motor Vehicles Eligible 
        for Credit'' and inserting ``Phaseout of Credit'';
            (2) by striking paragraph (2) and inserting the following:
            ``(2) Phaseout period.--For purposes of this subsection, 
        the phaseout period is the period beginning with calendar year 
        2022.''; and
            (3) by striking paragraph (4).
    (b) Effective Date.--The amendments made by this section shall 
apply to vehicles sold after December 31, 2018.
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