S. 4021 — Promoting Reduction of Emissions through Landscaping Equipment Act

This section establishes a new nonrefundable investment tax credit under IRC section 48F (as added) equal to 40% of the basis of zero-emission electric lawn, garden, and landscape equipment (i.e., electrically powered equipment for such purposes using solar, batteries, fuel cells, or similar zero-emission sources; related chargers, standalone batteries, and retrofit property) placed in service after December 31, 2024, subject to a $25,000 annual limit and $100,000 aggregate limit over any consecutive 10-year period. The credit terminates for property placed in service in taxable years beginning more than five years after enactment; includes a product identification number requirement after 2025 (similar to IRC §25C(h)); denies double benefits except for certain bonus depreciation; and exempts from recapture upon business dissolution or bankruptcy. This section further allows elective payment (under IRC §6417) or transfer (under IRC §6418) of the credit and makes conforming amendments to IRC §§46 and 49.