Affordable Electric Vehicles for America Act of 2022

Bill: 117-s-5020
Sponsor: full_name: Sen. Warnock, Raphael G. [D-GA]
Introduced: 2022-09-29
Policy area: Taxation
Latest action: action_date: 2022-09-29
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2022-09-29
action_desc: Introduced in Senate
text: <p> <strong>Affordable Electric Vehicles for America Act of 2022 </strong></p> <p>This bill extends until after 2025 the requirement that final assembly of vehicles occur within North America for purposes of the clean vehicle tax credit.</p>

tv_txt: II 117th CONGRESS 2d Session S. 5020 IN THE SENATE OF THE UNITED STATES September 29, 2022 Mr. Warnock 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 temporarily suspend application of the requirement that final assembly of vehicles occur within North America for purposes of the clean vehicle credit, and for other purposes.

1. Short title This Act may be cited as the Affordable Electric Vehicles for America Act of 2022 . 2. Adjustment of certain requirements for clean vehicle credit (a) Final assembly Subparagraph (G) of section 30D(d)(1) of the Internal Revenue Code of 1986, as added by section 13401(b) of Public Law 117–169 , is amended by inserting in the case of any motor vehicle sold after December 31, 2025, before the final assembly . (b) Critical minerals and battery components Section 30D of the Internal Revenue Code of 1986, as amended by section 13401 of Public Law 117–169 , is amended— (1) in subsection (d)(7)— (A) in subparagraph (A), by striking December 31, 2024 and inserting December 31, 2025 , and (B) in subparagraph (B), by striking December 31, 2023 and inserting December 31, 2024 , and (2) in subsection (e)— (A) in paragraph (1)(B)— (i) in clause (i), by striking after the date on which the proposed guidance described in paragraph (3)(B) is issued by the Secretary and before January 1, 2024 and inserting during calendar year 2026 , (ii) in clause (ii), by striking 2024 and inserting 2027 , (iii) in clause (iii), by striking 2025 and inserting 2028 , (iv) in clause (iv), by striking 2026 and inserting 2029 , and (v) in clause (v), by striking December 31, 2026 and inserting December 31, 2029 , (B) in paragraph (2)(B)— (i) in clause (i), by striking after the date on which the proposed guidance described in paragraph (3)(B) is issued by the Secretary and before January 1, 2024 and inserting during calendar year 2026 , (ii) in clause (ii), by striking 2024 or 2025 and inserting 2027 or 2028 , (iii) in clause (iii), by striking 2026 and inserting 2029 , (iv) in clause (iv), by striking 2027 and inserting 2030 , (v) in clause (v), by striking 2028 and inserting 2031 , and (vi) in clause (vi), by striking December 31, 2028 and inserting December 31, 2031 , and (C) in paragraph (3)(B), by striking December 31, 2022 and inserting December 31, 2025 . (c) Effective date The amendments made by this section shall take effect as if included in the enactment of section 13401 of Public Law 117–169 .