Text: H.R.7065 — 115th Congress (2017-2018)All Information (Except Text)

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Introduced in House (10/16/2018)


115th CONGRESS
2d Session
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.


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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 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.


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