United States:
Electric Vehicle And Charging Station Tax Credits: Assessing Proposed Changes
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Section 30D of the US Internal Revenue Code (“IRC”)
provides business and individual taxpayers that purchase new
qualified plug-in electric drive motor vehicles (“EVs”),
including passenger vehicles and light trucks, with a nonrefundable
tax credit. Section 30C of the IRC provides a nonrefundable
investment tax credit equal to 30 percent of the cost of
alternative fuel vehicle refueling property, which includes EV
charging stations and hydrogen refueling stations. There are
currently three primary proposals under discussion in Washington
that could materially change these federal income tax credits. This
Legal Update compares key aspects of these proposals. The three
proposals are the Biden Administration FY 2022 Budget, the GREEN
Act and the Clean Energy for America Act.
Read the
Legal Update here.
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