A bill to amend the Internal Revenue Code of 1986 to provide for the issuance of exempt facility bonds for zero-emission vehicle infrastructure.
Bill: S.493 | Sponsor: Sen. Cortez Masto, Catherine (D-NV)
Policy area: Taxation

Summary:
This bill permits the use of tax-exempt facility bonds to fund zero-emission vehicle infrastructure. The bill defines zero emissions vehicles as any light- or heavy-duty vehicles that conform to the regulatory zero-emission vehicles standard or vehicles that produce zero exhaust emissions of any criteria pollutant or greenhouse gas under the Clean Air Act.

To amend the Internal Revenue Code of 1986 to provide for the issuance 
   of exempt facility bonds for zero-emission vehicle infrastructure.

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

SECTION 1. EXEMPT FACILITY BONDS FOR ZERO-EMISSION VEHICLE 
              INFRASTRUCTURE.

    (a) In General.--Section 142 of the Internal Revenue Code of 1986 
is amended--
            (1) in subsection (a)--
                    (A) in paragraph (14), by striking ``or'' at the 
                end;
                    (B) in paragraph (15), by striking the period at 
                the end and inserting ``, or''; and
                    (C) by adding at the end the following new 
                paragraph:
            ``(16) zero-emission vehicle infrastructure.''; and
            (2) by adding at the end the following new subsection:
    ``(n) Zero-Emission Vehicle Infrastructure.--
            ``(1) In general.--For purposes of subsection (a)(16), the 
        term `zero-emission vehicle infrastructure' means any property 
        (not including a building and its structural components) if 
        such property is--
                    ``(A) made available for use by members of the 
                general public, and
                    ``(B) used to charge or fuel zero-emissions 
                vehicles, but only if the property is located at the 
                point where the vehicles are charged or fueled.
            ``(2) Inclusion of utility service connections.--The term 
        `zero-emission vehicle infrastructure' shall include any 
        utility service connections, utility panel upgrades, or 
        contributions in aid of construction (as described in section 
        118) which are required for the charging or fueling of zero-
        emissions vehicles.
            ``(3) Zero-emissions vehicle.--
                    ``(A) In general.--The term `zero-emissions 
                vehicle' means--
                            ``(i) a zero-emission vehicle as defined in 
                        section 88.102-94 of title 40, Code of Federal 
                        Regulations (as in effect on the date of 
                        enactment of this subsection), or
                            ``(ii) a vehicle that, under any possible 
                        operational modes and conditions, produces zero 
                        exhaust emissions of--
                                    ``(I) any criteria pollutant for 
                                which there are national ambient air 
                                quality standards under section 109 of 
                                the Clean Air Act (42 U.S.C. 7409) or 
                                precursor pollutant, or
                                    ``(II) any greenhouse gas.
                    ``(B) Greenhouse gas.--For purposes of this 
                paragraph, the term `greenhouse gas' means any of the 
                following:
                            ``(i) Carbon dioxide.
                            ``(ii) Methane.
                            ``(iii) Nitrous oxide.
                            ``(iv) Hydrofluorocarbons.
                            ``(v) Perfluorocarbons.
                            ``(vi) Sulfur hexafluoride.
            ``(4) Zero-emissions vehicle infrastructure located within 
        other facilities or projects.--For purposes of subsection (a), 
        any zero-emission vehicle infrastructure located within--
                    ``(A) a facility or project described in subsection 
                (a), or
                    ``(B) an area adjacent to a facility or project 
                described in subsection (a) that primarily serves 
                vehicles traveling to or from such facility or project,
        shall be treated as described in the paragraph in which such 
        facility or project is described.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to obligations issued after December 31, 2021.
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