Driving America Forward Act

Bill: 116-s-1094
Sponsor: full_name: Sen. Stabenow, Debbie [D-MI]
Introduced: 2019-04-09
Policy area: Taxation
Subjects: Alternative and renewable resources

Energy efficiency and conservation

Hybrid, electric, and advanced technology vehicles

Income tax credits

Motor vehicles
Latest action: action_date: 2019-04-09
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2019-04-09
action_desc: Introduced in Senate
text: <p><b>Driving America Forward Act </b></p> <p>This bill expands the tax credit for new plug-in electric drive motor vehicles and extends the tax credit for new fuel cell motor vehicles. </p> <p>(Under current law, taxpayers who purchase a qualified plug-in electric drive motor vehicle are eligible for a tax credit of up to $7,500, which begins to phase out once a manufacturer sells 200,000 qualified vehicles.) The bill allows an additional 400,000 vehicles per manufacturer to be eligible for a credit of up to $7,000 before the credit begins to phase out. </p> <p>The bill also extends the tax credit for fuel cell motor vehicles through 2028. (Under current law, the credit expired after 2017.) </p>

tv_txt: II 116th CONGRESS 1st Session S. 1094 IN THE SENATE OF THE UNITED STATES April 9, 2019 Ms. Stabenow (for herself, Mr. Alexander , Mr. Peters , and Ms. Collins ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to modify limitations on the credit for plug-in electric drive motor vehicles, and for other purposes.

1. Short title This Act may be cited as the Driving America Forward Act . 2. Modification of limitations on new qualified plug-in electric drive motor vehicle credit (a) In general Subsection (e) of section 30D of the Internal Revenue Code of 1986 is amended to read as follows: (e) Limitation on number of new qualified plug-In electric drive motor vehicles eligible for credit (1) In general In the case of any new qualified plug-in electric drive motor vehicle sold after the date of the enactment of the Driving America Forward Act — (A) if such vehicle is sold during the transition period, the amount determined under subsection (b)(2) shall be reduced by $500, and (B) if such vehicle is sold during the phaseout period, only the applicable percentage of the credit otherwise allowable under subsection (a) shall be allowed. (2) Transition period For purposes of this subsection, the transition period is the period subsequent to the first date on which the number of new qualified plug-in electric drive motor vehicles manufactured by the manufacturer 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) Phaseout period (A) In general For purposes of this subsection, the phaseout period is the period beginning 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 manufacturer of the vehicle referred to in paragraph (1) sold for use in the United States after December 31, 2009, is at least 600,000. (B) Applicable percentage For purposes of paragraph (1)(B), the applicable percentage is— (i) 50 percent for the first calendar quarter of the phaseout period, and (ii) 0 percent for each calendar quarter thereafter. (C) Exclusion of sale of certain vehicles (i) In general For purposes of subparagraph (A), any new qualified plug-in electric drive motor vehicle manufactured by the manufacturer of the vehicle referred to in paragraph (1) which was sold during the exclusion period shall not be included for purposes of determining the number of such vehicles sold. (ii) Exclusion period For purposes of this subparagraph, the exclusion period is the period— (I) beginning on the first date on which the number of new qualified plug-in electric drive motor vehicles manufactured by the manufacturer of the vehicle referred to in paragraph (1) sold for use in the United States after December 31, 2009, is at least 200,000, and (II) ending on the date of the enactment of the Driving America Forward Act . (4) Controlled groups Rules similar to the rules of section 30B(f)(4) shall apply for purposes of this subsection. . (b) Effective date The amendment made by this section shall apply to vehicles sold after the date of the enactment of this Act. 3. Extension of credit for new qualified fuel cell motor vehicles (a) In general Section 30B(k)(1) of the Internal Revenue Code of 1986 is amended by striking December 31, 2017 and inserting December 31, 2028 . (b) Effective date The amendments made by this section shall apply to property purchased after December 31, 2017.