Vote Smart's Synopsis:

Vote to pass a bill that establishes an electric vehicle tax credit.

Highlights:

• Authorizes a taxpayer who is not dependent on another individual and purchases or leases an electric vehicle, to claim a credit against their tax liability (Sec. 1).

• Specifies that the electric vehicle income tax credit shall be equal to $2,500 unless the taxpayer meets any of the following requirements, which shall then result in a tax credit of $5,000 (Sec. 1):

• Having an adjusted gross income of $50,000 or less when making an individual filing;

• Having an adjusted gross income of $37,500 or less when making a married individual filing; or

• Having an adjusted gross income of $75,000 or less when making married individuals filing joint returns as a head of household or surviving spouse.

• Authorizes a taxpayer to claim the electric vehicle income tax credit each taxable year beginning on or after January 1, 2020 (Sec. 1).

Full Bill Text