117 S4939 IS: Ending Duplicative Subsidies for Electric Vehicles Act U.S. Senate 2022-09-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II117th CONGRESS2d SessionS. 4939IN THE SENATE OF THE UNITED STATESSeptember 22, 2022Mr. Thune (for himself, Mr. Cassidy, Mr. Daines, and Mr. Toomey) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to prevent double dipping between tax credits and grants or loans for clean vehicle manufacturers.

1.

Short title

This Act may be cited as the Ending Duplicative Subsidies for Electric Vehicles Act.

2.

Coordination of electric vehicle credits with other subsidies

(a)

In general

Section 30D(d)(3) of the Internal Revenue Code of 1986, as amended by Public Law 117–169, is amended by adding at the end the following new sentence: Such term shall not include any person who has received a loan under section 136(d) of the Energy Independence and Security Act of 2007, a loan guarantee under section 1703 of the Energy Policy Act of 2005 with respect to a project described in section 1703(b)(8) of such Act, or a grant under section 50143 of the Act titled An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14 for the taxable year in which the new clean vehicle is placed in service or any prior taxable year..(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2022.