S.993 - Electric CARS Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Merkley, Jeff [D-OR] (Introduced 04/02/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 04/02/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.993 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (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.