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H.R. 2042 — Electric CARS Act of 2019 | PoliFocus

H.R. 2042116th Congress

Electric CARS Act of 2019

To amend the Internal Revenue Code of 1986 to extend certain tax credits related to electric cars, and for other purposes.

Sponsors

Rep. Welch, Peter [D-VT-At Large]

14 cosponsors

Subjects

Taxation

Summary

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.

Full Text

Related Legislation

H.R. 2025To amend the Internal Revenue Code of 1986 to permanently extend the alternative fuel refueling property credit.
2019-04-02Referred to the House Committee on Ways and Means.
Related
S. 993Electric CARS Act of 2019
2019-04-02Read twice and referred to the Committee on Finance.
Related

Legislative Actions

2019-04-02
Introduced in House
2019-04-02
Introduced in House
2019-04-02
Referred to the House Committee on Ways and Means.

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