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Tax Credit for New Electric Bicycle Purchases

This new law introduces a tax credit for individuals who purchase new electric bicycles. The aim is to encourage the use of eco-friendly transportation, potentially leading to personal savings and environmental benefits.
Key points
You can claim a tax credit equal to 30% of the cost of a new electric bicycle.
The maximum credit is $1,500 ($3,000 for joint filers).
The credit applies to electric bicycles costing up to $8,000 that meet specific technical standards.
You can claim the credit for one bicycle every two years (two for joint filers).
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Additional Information
E-BIKE Act
Print number: HR 1019
Sponsor: Rep. Panetta, Jimmy [D-CA-20]
Process start date: 2021-02-11