[Congressional Record Volume 168, Number 133 (Saturday, August 6, 2022)]
[Senate]
[Pages S4296-S4297]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 5294. Mr. MERKLEY (for himself and Ms. Baldwin) submitted an 
amendment intended to be proposed to amendment SA 5194 proposed by Mr. 
Schumer to the bill H.R. 5376, to provide for reconciliation pursuant 
to title II of S. Con. Res. 14; which was ordered to lie on the table; 
as follows:

        On page 378, strike line 6 and all that follows through 
     page 384, line 5, and insert the following:
       (g) Transfer of Credit.--
       (1) In general.--Section 30D is amended--
       (A) by redesignating subsection (g) as subsection (h), and
       (B) by inserting after subsection (f) the following:
       ``(g) Transfer of Credit.--
       ``(1) In general.--Subject to such regulations or other 
     guidance as the Secretary determines necessary or 
     appropriate, if the taxpayer who acquires a new clean vehicle 
     elects the application of this subsection with respect to 
     such vehicle, the credit which would (but for this 
     subsection) be allowed to such taxpayer with respect to such 
     vehicle shall be allowed to the eligible entity specified in 
     such election (and not to such taxpayer).
       ``(2) Eligible entity.--For purposes of this subsection, 
     the term `eligible entity' means, with respect to the vehicle 
     for which the credit is allowed under subsection (a), the 
     dealer which sold such vehicle to the taxpayer and has--
       ``(A) subject to paragraph (4), registered with the 
     Secretary for purposes of this paragraph, at such time, and 
     in such form and manner, as the Secretary may prescribe,
       ``(B) prior to the election described in paragraph (1) and 
     not later than at the time of such sale, disclosed to the 
     taxpayer purchasing such vehicle--
       ``(i) the manufacturer's suggested retail price,
       ``(ii) the value of the credit allowed and any other 
     incentive available for the purchase of such vehicle, and
       ``(iii) the amount provided by the dealer to such taxpayer 
     as a condition of the election described in paragraph (1),
       ``(C) not later than at the time of such sale, made payment 
     to such taxpayer (whether in cash or in the form of a partial 
     payment or down payment for the purchase of such vehicle) in 
     an amount equal to the credit otherwise allowable to such 
     taxpayer, and
       ``(D) with respect to any incentive otherwise available for 
     the purchase of a vehicle for which a credit is allowed under 
     this section, including any incentive in the form of a rebate 
     or discount provided by the dealer or manufacturer, ensured 
     that--
       ``(i) the availability or use of such incentive shall not 
     limit the ability of a taxpayer to make an election described 
     in paragraph (1), and
       ``(ii) such election shall not limit the value or use of 
     such incentive.
       ``(3) Timing.--An election described in paragraph (1) shall 
     be made by the taxpayer not later than the date on which the 
     vehicle for which the credit is allowed under subsection (a) 
     is purchased.
       ``(4) Revocation of registration.--Upon determination by 
     the Secretary that a dealer has failed to comply with the 
     requirements described in paragraph (2), the Secretary may 
     revoke the registration (as described in subparagraph (A) of 
     such paragraph) of such dealer.
       ``(5) Tax treatment of payments.--With respect to any 
     payment described in paragraph (2)(C), such payment--
       ``(A) shall not be includible in the gross income of the 
     taxpayer, and
       ``(B) with respect to the dealer, shall not be deductible 
     under this title.
       ``(6) Application of certain other requirements.--In the 
     case of any election under paragraph (1) with respect to any 
     vehicle--
       ``(A) the requirements of paragraphs (1) and (2) of 
     subsection (f) shall apply to the taxpayer who acquired the 
     vehicle in the same manner as if the credit determined under 
     this section with respect to such vehicle were allowed to 
     such taxpayer,
       ``(B) paragraph (6) of such subsection shall not apply, and
       ``(C) the requirement of paragraph (9) of such subsection 
     (f) shall be treated as satisfied if the eligible entity 
     provides the vehicle identification number of such vehicle to 
     the Secretary in such manner as the Secretary may provide.
       ``(7) Advance payment to registered dealers.--
       ``(A) In general.--The Secretary shall establish a program 
     to make advance payments to any eligible entity in an amount 
     equal to the cumulative amount of the credits allowed under 
     subsection (a) with respect to any vehicles sold by such 
     entity for which an election described in paragraph (1) has 
     been made.
       ``(B) Excessive payments.--Rules similar to the rules of 
     section 6417(c)(6) shall apply for purposes of this 
     paragraph.
       ``(C) Treatment of advance payments.--For purposes of 
     section 1324 of title 31, United States Code, the payments 
     under subparagraph (A) shall be treated in the same manner as 
     a refund due from a credit provision referred to in 
     subsection (b)(2) of such section.
       ``(8) Dealer.--For purposes of this subsection, the term 
     `dealer' means a person licensed by a State, the District of 
     Columbia, the Commonwealth of Puerto Rico, any other 
     territory or possession of the United States, an Indian 
     tribal government, or any

[[Page S4297]]

     Alaska Native Corporation (as defined in section 3 of the 
     Alaska Native Claims Settlement Act (43 U.S.C. 1602(m)) to 
     engage in the sale of vehicles.
       ``(9) Indian tribal government.--For purposes of this 
     subsection, the term `Indian tribal government' means the 
     recognized governing body of any Indian or Alaska Native 
     tribe, band, nation, pueblo, village, community, component 
     band, or component reservation, individually identified 
     (including parenthetically) in the list published most 
     recently as of the date of enactment of this subsection 
     pursuant to section 104 of the Federally Recognized Indian 
     Tribe List Act of 1994 (25 U.S.C. 5131).''.
       (2) Conforming amendments.--Section 30D, as amended by the 
     preceding provisions of this section, is amended--
       (A) in subsection (d)(1)(H) of such section--
       (i) in clause (iv), by striking ``and'' at the end,
       (ii) in clause (v), by striking the period at the end and 
     inserting ``, and'', and
       (iii) by adding at the end the following:
       ``(vi) in the case of a taxpayer who makes an election 
     under subsection (g)(1), any amount described in subsection 
     (g)(2)(C) which has been provided to such taxpayer.'', and
       (B) in subsection (f)--
       (i) by striking paragraph (3), and
       (ii) in paragraph (8), by inserting ``, including any 
     vehicle with respect to which the taxpayer elects the 
     application of subsection (g)'' before the period at the end.
       (h) Extension of Credit for Qualified 2- or 3- Wheeled 
     Plug-in Electric Vehicles; Termination.--Section 30D is 
     amended--
       (1) in subsection (h)(3), as redesignated by the preceding 
     provisions of this section--
       (A) in subparagraph (B), by striking ``4 kilowatt hours'' 
     and inserting ``7 kilowatt hours'', and
       (B) by striking subparagraph (E) and inserting the 
     following:
       ``(E) in the case of a vehicle placed in service after 
     December 31, 2026, the final assembly of which occurs within 
     the United States.''.
       (2) by adding at the end the following:
       ``(i) Termination.--No credit shall be allowed under this 
     section with respect to any vehicle placed in service after 
     December 31, 2032.''.
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