H.R. 7065

To amend the Internal Revenue Code of 1986 to establish a new phaseout of the credit for plug-in electric drive motor vehicles.

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I

115th CONGRESS

2d Session

H. R. 7065

IN THE HOUSE OF REPRESENTATIVES

October 16, 2018

Mrs. Black (for herself, Mr. Holding, and Mr. Bishop of Michigan) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to establish a new phaseout of the credit for plug-in electric drive motor vehicles.

1.

Phaseout of new qualified plug-in electric drive motor vehicle credit

(a)

In general

Section 30D(e) of the Internal Revenue Code of 1986 is amended—

(1)

in the heading, by striking Limitation on number of new qualified plug-in electric drive motor vehicles eligible for credit and inserting Phaseout of credit;

(2)

by striking paragraph (2) and inserting the following:

(2)

Phaseout period

For purposes of this subsection, the phaseout period is the period beginning with calendar year 2022.

; and

(3)

by striking paragraph (4).

(b)

Effective date

The amendments made by this section shall apply to vehicles sold after December 31, 2018.