Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to "Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern".

Bill: 118-hjres-179
Sponsor: full_name: Rep. Palmer, Gary J. [R-AL-6]
Introduced: 2024-07-02
Policy area: Taxation
Subjects: Administrative law and regulatory procedures

Energy storage, supplies, demand

Hybrid, electric, and advanced technology vehicles

Income tax credits

Internal Revenue Service (IRS)

Motor vehicles
Latest action: action_date: 2024-07-02
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2024-07-02
action_desc: Introduced in House
text: <p>This joint resolution nullifies the rule titled <em>Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern</em>, which was issued by the Internal Revenue Service on May 6, 2024. The rule provides guidance on the transfer of any new clean vehicle tax credit or previously owned clean vehicle tax credit amounts to dealers that are eligible to receive advance payments of such tax credits. The rule also establishes the requirements for determining if the battery components and applicable minerals contained in a vehicle battery comply with foreign entity of concern restrictions.</p>

tv_txt: IA 118th CONGRESS 2d Session H. J. RES. 179 IN THE HOUSE OF REPRESENTATIVES July 2, 2024 Mr. Palmer submitted the following joint resolution; which was referred to the Committee on Ways and Means JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern .

That Congress disapproves the rule submitted by the Department of the Treasury relating to Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern (89 Fed. Reg. 37706 (May 6, 2024)), and such rule shall have no force or effect.