To amend the Internal Revenue Code of 1986 to provide a credit for the purchase of certain new electric bicycles.
Electric Bicycle Incentive Kickstart for the Environment Act or the E-BIKE Act
This bill allows individual taxpayers a new tax credit for 30% of the cost of a qualified electric bicycle. The bill defines qualified electric bicycle to mean a bicycle or tricycle that does not cost more than $8,000 and that is equipped with fully operable pedals, a saddle or seat for the rider, and an electric motor of less than 750 watts designed to assist in propelling the bicycle or tricycle under certain conditions
The bill requires the Internal Revenue Service to establish a program to make advance payments of the credit and to publicly report on the number of taxpayers claiming the credit and the aggregate dollar amount of the credit, beginning in 2023 and 2024.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Work and Welfare.
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