(1) The table of chapters for subtitle D is amend-
ed by inserting after the item relating to chapter 50A 
the following new item: 
‘‘CHAPTER 50B. ACQUISITION OF UNITED STATES AGRICULTURAL INTERESTS 
BY DISQUALIFIED PERSONS.’’. 
(2) The table of sections for subpart B of part 
III of subchapter A of chapter 61 is amended by add-
ing at the end the following new item: 
‘‘Sec. 6050AA. Returns relating to acquisition of United States agricultural in-
terests by disqualified persons.’’. 
(d) EFFECTIVE DATE.—The amendments made by this 
section shall apply to acquisitions after the date of the en-
actment of this Act. 
TITLE III—REPEAL OF SPECIAL 
INTEREST TAX PROVISIONS 
SEC. 301. REPEAL OF CLEAN ELECTRICITY PRODUCTION 
CREDIT. 
(a) IN GENERAL.—Subpart D of part IV of subchapter 
A of chapter 1 is amended by striking section 45Y (and 
by striking the item relating to such section in the table 
of sections for such subpart). 
(b) CONFORMING AMENDMENTS.— 
(1) Section 38(b) is amended by striking para-
graph (39) and redesignating paragraphs (40) and 
(41) as paragraphs (39) and (40), respectively. 
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(2) Section 6417(b) is amended by striking para-
graph (8) and redesignating paragraphs (9) through 
(12) as paragraphs (8) through (11), respectively. 
(3) Section 6418(f)(1) is amended— 
(A) in subparagraph (A), by striking clause 
(vii) and by redesignating clauses (viii) through 
(xi) as clauses (vii) through (x), respectively, and 
(B) in subparagraph (B), by striking ‘‘(v), 
or (vii)’’ and inserting ‘‘or (v)’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall take effect as if included in section 13701 of 
Public Law 117–169. 
SEC. 302. REPEAL OF CLEAN ELECTRICITY INVESTMENT 
CREDIT. 
(a) IN GENERAL.—Subpart E of part IV of subchapter 
A of chapter 1 is amended by striking section 48E (and 
by striking the item relating to such section in the table 
of sections for such subpart). 
(b) CONFORMING AMENDMENTS.— 
(1) Section 46, as amended by Public Law 117– 
169, is amended— 
(A) in paragraph (5), by adding ‘‘and’’ at 
the end, 
(B) in paragraph (6), by striking ‘‘, and’’ 
and inserting a period, and 
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(C) by striking paragraph (7). 
(2) Section 48(e)(4)(D) is amended by striking 
‘‘except as provided in section 48E(h)(4)(D)(ii)’’. 
(3) Section 48C(f) is amended by striking 
‘‘48E,’’. 
(4) Section 49(a)(1)(C), as amended by Public 
Law 117–169, is amended— 
(A) by adding ‘‘and’’ at the end of clause 
(v), 
(B) by striking the comma at the end of 
clause (vi) and inserting a period, and 
(C) by striking clauses (vii) and (viii). 
(5) Section 50(a)(2)(E), as amended by Public 
Law 117–169, is amended by striking ‘‘48D(b)(5), or 
48E(e)’’ and inserting ‘‘or 48D(b)(5)’’. 
(6) Section 50(c)(3), as amended by Public Law 
117–169, is amended by striking ‘‘or clean electricity 
investment credit’’. 
(7) Section 168(e)(3)(B), as amended by Public 
Law 117–169, is amended— 
(A) in clause (vi)(III), by inserting ‘‘and’’ 
at the end, 
(B) in clause (vii), by striking ‘‘, and’’ and 
inserting a period, and 
(C) by striking clause (viii). 
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(8) Section 6417(b), as amended by the pre-
ceding provisions of this Act, is amended by striking 
paragraph (11). 
(9) Section 6418(f)(1)(A), as amended by the 
preceding provisions of this Act, is amended by strik-
ing clause (x). 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall take effect as if included in section 13702 of 
Public Law 117–169. 
SEC. 303. MODIFICATION OF CLEAN VEHICLE CREDIT. 
(a) PER
VEHICLE
DOLLAR
LIMITATION.—Section 
30D(b) is amended by striking paragraphs (2) and (3) and 
inserting the following: 
‘‘(2) BASE
AMOUNT.—The amount determined 
under this paragraph is $2,500. 
‘‘(3) BATTERY CAPACITY.—In the case of a vehi-
cle which draws propulsion energy from a battery 
with not less than 5 kilowatt hours of capacity, the 
amount determined under this paragraph is $417, 
plus $417 for each kilowatt hour of capacity in excess 
of 5 kilowatt hours. The amount determined under 
this paragraph shall not exceed $5,000.’’. 
(b) FINAL ASSEMBLY.—Section 30D(d) is amended— 
(1) in paragraph (1), by striking subparagraph 
(G), and 
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(2) by striking paragraph (5). 
(c) ADDITIONAL MODIFICATIONS TO VEHICLE DEFINI-
TION.— 
(1) IN GENERAL.—Section 30D(d), as amended 
by subsection (b), is amended— 
(A) in the heading, by striking ‘‘CLEAN’’ 
and inserting ‘‘QUALIFIED PLUG-IN ELECTRIC 
DRIVE MOTOR’’, 
(B) in paragraph (1)— 
(i) in the matter preceding subpara-
graph (A), by striking ‘‘clean’’ and insert-
ing ‘‘qualified plug-in electric drive motor’’, 
(ii) in subparagraph (C), by striking 
‘‘qualified’’ before ‘‘manufacturer’’, 
(iii) in subparagraph (E), by adding 
‘‘and’’ at the end, 
(iv) in subparagraph (F)— 
(I) in clause (i), by striking ‘‘7’’ 
and inserting ‘‘4’’, and 
(II) in clause (ii), by striking the 
comma at the end and inserting a pe-
riod, and 
(v) by striking subparagraph (H), 
(C) in paragraph (3)— 
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(i) in the heading, by striking ‘‘QUALI-
FIED MANUFACTURER’’ and inserting ‘‘MAN-
UFACTURER’’, and 
(ii) by striking ‘‘The term ‘qualified 
manufacturer’ means’’ and all that follows 
through the period and inserting ‘‘The term 
‘manufacturer’ has the meaning given such 
term in regulations prescribed by the Ad-
ministrator of the Environmental Protec-
tion Agency for purposes of the administra-
tion of title II of the Clean Air Act (42 
U.S.C. 7521 et seq.).’’, and 
(D) by striking paragraph (6). 
(2) CONFORMING AMENDMENTS.—Section 30D is 
amended— 
(A) in subsection (a), by striking ‘‘new 
clean vehicle’’ and inserting ‘‘new qualified plug- 
in electric drive motor vehicle’’, and 
(B) in subsection (b)(1), by striking ‘‘new 
clean vehicle’’ and inserting ‘‘new qualified plug- 
in electric drive motor vehicle’’. 
(d) CRITICAL MINERAL AND BATTERY COMPONENT 
REQUIREMENT MODIFICATIONS.— 
(1) IN GENERAL.—Section 30D(e), as added by 
Public Law 117–169, is amended by striking para-
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graphs (1) and (2), by redesignating paragraph (3) 
as paragraph (4), and by inserting before paragraph 
(4) (as so redesignated) the following new paragraphs: 
‘‘(1) CRITICAL
MINERALS
REQUIREMENT.—No 
credit shall be allowed under this section with respect 
to any vehicle unless, with respect to the battery from 
which the electric motor of such vehicle draws elec-
tricity, the percentage of the value of the applicable 
critical minerals (as defined in section 45X(c)(6)) 
contained in such battery that were— 
‘‘(A) extracted or processed— 
‘‘(i) in the United States, or 
‘‘(ii) in any country with which the 
United States has a free trade agreement in 
effect, or 
‘‘(B) recycled in North America, 
is equal to or greater than 80 percent (as certified by 
the manufacturer, in such form or manner as pre-
scribed by the Secretary). For purposes of subpara-
graph (A)(ii), the term ‘free trade agreement’ means 
an international agreement approved by Congress 
that eliminates duties and other restrictive regula-
tions of commerce on substantially all the trade be-
tween the United States and one or more other coun-
tries. 
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‘‘(2) BATTERY COMPONENTS.—No credit shall be 
allowed under this section with respect to any vehicle 
unless, with respect to the battery from which the elec-
tric motor of such vehicle draws electricity, all of the 
components contained in such battery were manufac-
tured or assembled in North America (as certified by 
the manufacturer, in such form or manner as pre-
scribed by the Secretary). 
‘‘(3) RESTRICTION
ON
FOREIGN
ENTITIES
OF 
CONCERN.—No credit shall be allowed under this sec-
tion which respect to any vehicle placed in service 
after December 31, 2024, if any of the applicable crit-
ical minerals contained in the battery of such vehicle 
(as described in paragraph (1)) were extracted, proc-
essed, or recycled by a foreign entity of concern (as 
defined in section 40207(a)(5) of the Infrastructure 
Investment and Jobs Act (42 U.S.C. 18741(a)(5))).’’. 
(2) CONFORMING AMENDMENT.—Section 30D(d) 
is amended by striking paragraph (7). 
(e) TRANSFER OF CREDIT REPEALED.— 
(1) IN GENERAL.—Section 30D is amended by 
striking subsection (g). 
(2) CONFORMING
AMENDMENTS
REVERSED.— 
Section 30D(f) is amended— 
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(A) by inserting after paragraph (2) the fol-
lowing: 
‘‘(3) PROPERTY USED BY TAX-EXEMPT ENTITY.—In 
the case of a vehicle the use of which is described in para-
graph (3) or (4) of section 50(b) and which is not subject 
to a lease, the person who sold such vehicle to the person 
or entity using such vehicle shall be treated as the taxpayer 
that placed such vehicle in service, but only if such person 
clearly discloses to such person or entity in a document the 
amount of any credit allowable under subsection (a) with 
respect to such vehicle (determined without regard to sub-
section (c)). For purposes of subsection (c), property to 
which this paragraph applies shall be treated as of a char-
acter subject to an allowance for depreciation.’’, and 
(B) in paragraph (8), by striking ‘‘, includ-
ing any vehicle with respect to which the tax-
payer elects the application of subsection (g)’’. 
(f) REINSTATEMENT OF LIMITATION ON NUMBER OF 
VEHICLES ELIGIBLE FOR CREDIT.—Section 30D is amend-
ed by inserting after subsection (f) the following: 
‘‘(g) LIMITATION ON NUMBER OF NEW QUALIFIED 
PLUG-IN ELECTRIC DRIVE MOTOR VEHICLES ELIGIBLE 
FOR CREDIT.— 
‘‘(1) IN GENERAL.—In the case of a new quali-
fied plug-in electric drive motor vehicle sold during 
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the phaseout period, only the applicable percentage of 
the credit otherwise allowable under subsection (a) 
shall be allowed. 
‘‘(2) PHASEOUT PERIOD.—For purposes of this 
subsection, the phaseout period is the period begin-
ning 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 manufac-
turer of the vehicle referred to in paragraph (1) sold 
for use in the United States after December 31, 2009, 
is at least 200,000. 
‘‘(3) APPLICABLE
PERCENTAGE.—For purposes 
of paragraph (1), the applicable percentage is— 
‘‘(A) 50 percent for the first 2 calendar 
quarters of the phaseout period, 
‘‘(B) 25 percent for the 3rd and 4th cal-
endar quarters of the phaseout period, and 
‘‘(C) 0 percent for each calendar quarter 
thereafter. 
‘‘(4) CONTROLLED
GROUPS.—Rules similar to 
the rules of section 30B(f)(4) shall apply for purposes 
of this subsection.’’. 
(g) TERMINATION REPEALED.—Section 30D is amend-
ed by striking subsection (h). 
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(h) ADDITIONAL CONFORMING AMENDMENTS.— 
(1) The heading of section 30D is amended by 
striking ‘‘CLEAN VEHICLE CREDIT’’ and inserting 
‘‘NEW
QUALIFIED
PLUG-IN
ELECTRIC
DRIVE 
MOTOR VEHICLES’’. 
(2) Section 30B(h)(8) is amended by inserting ‘‘, 
except that no benefit shall be recaptured if such 
property ceases to be eligible for such credit by reason 
of conversion to a qualified plug-in electric drive 
motor vehicle’’, before the period at the end. 
(3) Section 38(b)(30) is amended by striking 
‘‘clean’’ and inserting ‘‘qualified plug-in electric drive 
motor’’. 
(4) The table of sections for subpart B of part IV 
of subchapter A of chapter 1 is amended by striking 
the item relating to section 30D and inserting after 
the item relating to section 30C the following item: 
‘‘Sec. 30D. New qualified plug-in electric drive motor vehicles.’’ 
(i) GROSS UP REPEALED.—Section 13401 of Public 
Law 117–169 is amended by striking subsection (j). 
(j) EFFECTIVE DATES.— 
(1) IN GENERAL.—Except as otherwise provided 
in this subsection or subsection (k), the amendments 
made by this section shall apply to vehicles placed in 
service after June 9, 2023. 
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(2) FINAL ASSEMBLY AND MANUFACTURER LIMI-
TATION.—The amendments made by subsections (b) 
and (f) shall apply to vehicles sold after June 9, 2023. 
Notwithstanding the preceding sentence, the phaseout 
period (as defined in section 30D(g) of the Internal 
Revenue Code of 1986, as amended by this section) 
shall be determined by taking into account all vehicles 
described in section 30D(g) of such Code (as so 
amended). 
(k) TRANSITION RULE.—Notwithstanding subsection 
(j) (other than the last sentence of subsection (j)(2)), the 
amendments made by this section shall not apply with re-
spect to any vehicle which is— 
(1) acquired by the taxpayer pursuant to a writ-
ten binding contract that was in effect on June 9, 
2023, and 
(2) placed in service before June 9, 2024. 
(l) COORDINATION WITH PROVISIONS WHICH HAVE 
NOT TAKEN EFFECT.— 
(1) TRANSFER
OF
CREDIT.—Notwithstanding 
subsection (k)(4) of section 13401 of Public Law 117– 
169, the amendments made by subsection (g) of such 
section shall not apply. 
(2) PER VEHICLE DOLLAR LIMITS AND RELATED 
REQUIREMENTS.—Notwithstanding subsection (k)(3) 
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