Clean Vehicle Credit Changes: Defining Free Trade Agreements
This act modifies the rules for clean vehicle tax credits. To qualify for the credit, a trade agreement with the vehicle's component origin country must now be approved by Congress. Citizens purchasing new clean vehicles should verify if their chosen vehicle meets these new criteria to be eligible for the tax credit.
Key points
New definition of 'free trade agreement' for clean vehicle credit purposes: requires Congressional approval.
The change applies to vehicles placed in service after the enactment date of this act.
May impact the eligibility of certain clean vehicle models for tax credits, depending on their origin.
Expired
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