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Text of the Electric Vehicle Purchasing Credit Expansion Act of 2012

This bill was introduced on August 2, 2012, in a previous session of Congress, but was not enacted. The text of the bill below is as of Aug 2, 2012 (Introduced).

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Source: GPO

I

112th CONGRESS

2d Session

H. R. 6323

IN THE HOUSE OF REPRESENTATIVES

August 2, 2012

introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to increase the credit limitation for new qualified plug-in electric drive motor vehicles.

1.

Short title

This Act may be cited as the Electric Vehicle Purchasing Credit Expansion Act of 2012.

2.

Increase in credit limitation for new qualified plug-in electric drive motor vehicles

(a)

Base Amount of per vehicle limitation

Paragraph (2) of section 30D(b) of the Internal Revenue Code of 1986 is amended by striking $2,500 and inserting $3,750.

(b)

Battery capacity limitation

Paragraph (3) of section 30D(b) of such Code is amended by striking $5,000 and inserting $6,250.

(c)

Effective date

The amendments made by this section shall apply to vehicles placed in service after the date of the enactment of this Act.