S.3449 - Electric CARS Act of 2018115th Congress (2017-2018)
|Sponsor:||Sen. Merkley, Jeff [D-OR] (Introduced 09/17/2018)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 09/17/2018 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.3449 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (09/17/2018)
Electric Credit Access Ready at Sale Act of 2018 or the Electric CARS Act of 2018
This bill amends the Internal Revenue Code to modify and extend several tax credits related to electric cars.
The bill extends the tax credit for new qualified plug-in electric drive motor vehicles through 2028. In addition, the bill modifies the credit to:
- remove the limitation on the number of vehicles per manufacturer that are eligible for the credit,
- allow a taxpayer to assign the credit to a financing entity, and
- allow an unused credit to be carried forward for five years.
The bill also extends through 2028 the tax credits for: (1) alternative fuel vehicle refueling property, and (2) alternative motor vehicles.