commentary/question
------------------------------ Is the provision in this bill for *pure* electric vehicles like the Tesla or does it also includes Plugin Hybrids Electric Vehicles?
I found the following details of the
2008 Wall street bailout tax credits for plug-in electric vehiclesfor the actual text and details goto
Section 205 credit for new qualified plug-in electric drive motor vehicle.
A new qualified plug-in electric drive motor vehicle gets a tax credit of $2,500 plus $417 for each kilowatt hour of traction battery capacity that is in execess of 4 kilowatt hours. The maximum tax credit is base on the electric vehicle weight class:
--------------------------------------------------------------- EV_weight max_tax_credit
--------------------------------------------------------------- ____0-10,000 pounds 7,500.00
10,001-14,000 pounds 10,000.00 14,001-26,000 pounds 12,500.00 _____>26,000 pounds 15,000.00--------------------------------------------------------------
To be eligible for the full tax credit the vehicle must be purchased after December 31, 2008 (that is it must be purchase in 2009 or later) and be sold before the first calendar quarter quarter inwhich the total number of new qualified plug-in electric drive motor vehicles sold for use in the USA has reached atleast 250,000 vehicles. After the 250,000th qualifying electric vehicle is sold this tax break is phased out. During the phase out period following 2nd calendar quarter provides only 50% of the full tax credit and the 3rd and 4th following calendar quarters will provide only 25% of thetaxcredit. After the 4th calendar quarter there is no tax credit and the program is terminated. Qualifying EV with a gross weight of no more than 8,500 pounds must be certified to conform to the Clean Air Act and meet or Exceed Califnoria's lo emission standards.
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