Zero-Emission Bus Tax Credit: Supporting Clean Transportation
This act introduces a new tax credit for manufacturers of zero-emission buses. The goal is to encourage the production and purchase of vehicles that do not emit pollutants, potentially leading to improved air quality in cities and reduced noise. Citizens may indirectly benefit from a cleaner environment and potentially more modern public transportation.
Key points
Manufacturers of zero-emission buses can receive a tax credit equal to 10% of the sale price of each such bus.
The credit applies to buses weighing at least 14,000 pounds, powered solely by an electric motor (from battery or fuel cell), and designed to carry 15 or more passengers.
The maximum sale price of a bus for which the credit is calculated is $1,000,000.
The credit is not allowed if the manufacturer knows the bus will not be primarily used in the United States.
These provisions for the credit are set to expire after December 31, 2026.
Expired
Additional Information
Print number: 117_HR_583
Sponsor: Rep. Panetta, Jimmy [D-CA-20]
Process start date: 2021-01-28