)
or https:// means you’ve safely connected to
the .gov website. Share sensitive information only on official,
secure websites.
- Tax Credit
IRA Statuatory Location:
13404
Tax Code Location:
26 U.S. Code § 30C
New or Modified Provision:
Extended and modified to include prevailing wage and registered apprenticeship requirements for businesses claiming the credit. Adds bidirectional charging equipment, charging equipment for 2- and 3-wheel electric vehicles. Limited to low-income and non-urban areas.
Eligible Recipients:
The qualified alternative fuel vehicle refueling property must be for clean-burning fuels, as defined in the statute, and must be located in low-income or rural areas.
Tribal Eligibility:
Yes
Funded by:
U.S. Department of Treasury
Description
Provides a tax credit for alternative fuel vehicle refueling and charging property in low-income and rural areas. Alternative fuels include electricity, ethanol, natural gas, hydrogen, biodiesel, and others.
Direct Pay Eligibility:
Businesses can claim a 30% credit for projects meeting prevailing wage and registered apprenticeship requirements. Initial guidance on the labor provisions is here.
Transferability:
Yes, for property used in a trade or business.
Stackability:
No rules
Energy Community Bonus:
No
Relevant Announcements
Related Resources
Additional information is available on the Resources page.Key Details
Period of Availability
January 1, 2023-December 31, 2032
Tax Mechanism:
Tax credit for consumers and businesses.
Base Credit Amount:
6% of the cost for businesses, limited to a $100,000 credit per item of property for businesses. 30% for individuals, limited to $1,000.
Bonus Credit Amount:
Businesses can claim a 30% credit for projects meeting prevailing wage and registered apprenticeship requirements. Initial guidance on the labor provisions is here.