Summary: H.R.2042 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.2042. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (04/02/2019)

Electric Credit Access Ready at Sale Act of 2019 or the Electric CARS Act of 2019

This bill modifies and extends several tax credits related to electric cars.

The bill extends the tax credit for new qualified plug-in electric drive motor vehicles through 2029. 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 2029 the tax credits for (1) alternative fuel vehicle refueling property, and (2) alternative motor vehicles.