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Tax Credits for Commercial Electric Vehicles: Boosting Green Transport.

This act introduces new tax credits for businesses purchasing qualified commercial electric vehicles. The goal is to encourage the adoption of more environmentally friendly transportation, potentially reducing air pollution and operational costs for companies. These changes will apply to vehicles acquired after December 31, 2021.
Key points
Businesses can receive a tax credit equal to 30% of the cost of a qualified commercial electric vehicle.
The credit applies to vehicles with a battery capacity of at least 30 kWh, rechargeable from an external source, and not powered by an internal combustion engine.
A Vehicle Identification Number (VIN) must be included on the tax return to claim the credit.
The credit program will terminate for vehicles acquired after December 31, 2031.
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Additional Information
Green VAN Act of 2021
Print number: HR 5180
Sponsor: Rep. Beyer, Donald S., Jr. [D-VA-8]
Process start date: 2021-09-07