Electric Motorcycle Parity Act of 2023

Bill: 118-s-1779
Sponsor: full_name: Sen. Casey, Robert P., Jr. [D-PA]
Introduced: 2023-05-31
Policy area: Taxation
Latest action: action_date: 2023-05-31
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2023-05-31
action_desc: Introduced in Senate
text: <p><strong>Electric Motorcycle Parity Act of 2023</strong></p><p>This bill expands the new clean vehicle tax credit established by the Inflation Reduction Act to include&nbsp;clean vehicles with fewer than four wheels (e.g., motorcycles). To qualify for the credit, such vehicles must meet certain existing requirements for clean vehicles, such as those relating to manufacturing specifications.  Additionally, the vehicles must meet battery capacity requirements; be manufactured primarily for use on public streets, roads, and highways; and be capable of achieving a&nbsp;speed of 45 miles per hour or greater.&nbsp;&nbsp;&nbsp;&nbsp;</p>

tv_txt: II 118th CONGRESS 1st Session S. 1779 IN THE SENATE OF THE UNITED STATES May 31 (legislative day, May 30), 2023 Mr. Casey (for himself, Ms. Baldwin , and Mr. Wyden ) 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 expand the new clean vehicle credit to include clean vehicles with fewer than 4 wheels.

1. Short title This Act may be cited as the Electric Motorcycle Parity Act of 2023 . 2. Expansion of new clean vehicle credit to include clean vehicles with fewer than 4 wheels (a) In general Section 30D of the Internal Revenue Code of 1986, as amended by section 13401 of Public Law 117–169 , is amended— (1) by redesignating subsection (h) as subsection (i), and (2) by inserting after subsection (g) the following: (h) Credit allowed for clean vehicles with fewer than 4 wheels (1) In general In the case of a qualified clean vehicle with fewer than 4 wheels— (A) there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of the applicable amount with respect to each such qualified clean vehicle with fewer than 4 wheels placed in service by the taxpayer during the taxable year, and (B) the amount of the credit allowed under subparagraph (A) shall be treated as a credit allowed under subsection (a). (2) Applicable amount For purposes of paragraph (1), the applicable amount is an amount equal to the sum of— (A) in the case of a vehicle with respect to which the requirement described in subsection (e)(1)(A) is satisfied, $3,750, plus (B) in the case of a vehicle with respect to which the requirement described in subsection (e)(2)(A) is satisfied, $3,750. (3) Qualified clean vehicle with fewer than 4 wheels The term qualified clean vehicle with fewer than 4 wheels means any vehicle which— (A) has fewer than 4 wheels, (B) meets the requirements of— (i) subparagraphs (A), (B), (C), (E), (F), (G), and (H) of subsection (d)(1) (determined by substituting 2.5 kilowatt hours for 7 kilowatt hours in subparagraph (F)(i) of such subsection), or (ii) subparagraphs (A), (C), (D), and (E) of section 30B(b)(3) and subparagraphs (G) and (H) of subsection (d)(1), (C) is manufactured primarily for use on public streets, roads, and highways, and (D) is capable of achieving a speed of 45 miles per hour or greater. . (b) Effective date The amendments made by this section shall apply to vehicles acquired after December 31, 2022.