[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 1969 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                S. 1969

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


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                   IN THE SENATE OF THE UNITED STATES

                              June 8, 2021

 Mr. Barrasso 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 terminate the credit for 
          new qualified 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. SHORT TITLE.

    This Act may be cited as the ``Eliminate Lavish Incentives To 
Electric Vehicles Act'' or the ``ELITE Vehicles Act''.

SEC. 2. TERMINATION AND REPEAL OF CREDIT FOR NEW QUALIFIED PLUG-IN 
              ELECTRIC DRIVE MOTOR VEHICLES.

    (a) Termination.--Section 30D of the Internal Revenue Code of 1986 
is amended by adding at the end the following new subsection:
    ``(h) Termination.--Notwithstanding any of the preceding provisions 
of this section, this section shall not apply to vehicles placed in 
service after the date that is 30 days after the date of the enactment 
of this subsection.''.
    (b) Repeal.--
            (1) In general.--Subpart B of part IV of subchapter A of 
        chapter 1 of the Internal Revenue Code of 1986 is amended by 
        striking section 30D (and by striking the item relating to such 
        section in the table of sections for such subpart).
            (2) Conforming amendments.--
                    (A) Section 38(b) of the Internal Revenue Code of 
                1986 is amended by striking paragraph (30).
                    (B) Section 1016(a) of such Code is amended by 
                striking paragraph (37).
                    (C) Section 6501(m) of such Code is amended by 
                striking ``30D(e)(4),''.
            (3) Effective date.--The amendments made by this subsection 
        shall apply to taxable years beginning after the date that is 1 
        year and 30 days after the date of the enactment of this Act.
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