[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 3582 Introduced in Senate (IS)]

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115th CONGRESS
  2d Session
                                S. 3582

To amend the Internal Revenue Code of 1986 to establish a new phaseout 
        of the credit for plug-in electric drive motor vehicles.


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                   IN THE SENATE OF THE UNITED STATES

                            October 11, 2018

  Mr. Heller introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to establish a new phaseout 
        of the credit for plug-in electric drive motor vehicles.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PHASEOUT OF NEW QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR 
              VEHICLE CREDIT.

    (a) In General.--Section 30D(e) of the Internal Revenue Code of 
1986 is amended--
            (1) in the heading, by striking ``Limitation on Number of 
        New Qualified Plug-in Electric Drive Motor Vehicles Eligible 
        for Credit'' and inserting ``Phaseout of Credit'';
            (2) by striking paragraph (2) and inserting the following:
            ``(2) Phaseout period.--For purposes of this subsection, 
        the phaseout period is calendar year 2022.''; and
            (3) by striking paragraph (4).
    (b) Effective Date.--The amendments made by this section shall 
apply to vehicles sold after December 31, 2018.
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