H.R. 1367 — ELITE Vehicles Act

This section establishes the short title as the “Eliminate Lavish Incentives To Electric Vehicles Act” or the “ELITE Vehicles Act.”

This section repeals the clean vehicle credit under section 30D of the Internal Revenue Code of 1986 and makes conforming amendments to related tax provisions, including removing references to the credit from the alternative fuel vehicle refueling property credit, the general business credit, the energy-efficient commercial buildings deduction, the basis adjustment rules, the Tax Court deficiency procedures, the elective payment rules, the limitations period for assessment, and the surface transportation electric vehicle infrastructure program. It also defines “Indian tribal government” for purposes of the energy-efficient commercial buildings deduction as the recognized governing body of any Indian or Alaska Native tribe, band, nation, pueblo, village, community, component band, or component reservation listed in the most recent federally recognized tribe list under 25 U.S.C. 5131. The repeal and related amendments apply to vehicles purchased, or subject to a written binding contract to purchase, after 30 days after enactment.

This section repeals the previously-owned clean vehicle tax credit under section 25E of the Internal Revenue Code of 1986. (Thus, taxpayers may no longer claim a credit of up to $4,000 for the purchase of a qualified previously-owned clean vehicle for vehicles purchased, or subject to a written binding contract to purchase, more than 30 days after enactment.) It also makes a conforming amendment to section 6213(g)(2) by striking subparagraph (U).

This section repeals the credit for qualified commercial clean vehicles under section 45W of the Internal Revenue Code of 1986 and makes conforming changes to the general business credit and deficiency procedures provisions. (Thus, businesses may no longer claim the commercial clean vehicle tax credit for vehicles purchased, or subject to a written binding contract to purchase, after the date that is 30 days after enactment.)

This section excludes electric vehicle recharging property from the alternative fuel vehicle refueling property credit under section 30C of the Internal Revenue Code of 1986 by removing electric vehicle charging equipment from the definition of qualified alternative fuel vehicle refueling property and striking the related subsection that governed the credit’s application. (Thus, taxpayers may no longer claim the section 30C credit for property used to recharge motor vehicles propelled by electricity for property purchased, or subject to a written binding contract to purchase, after the date that is 30 days after enactment.)