Green Bus Tax Credit Act of 2021

Green Bus Tax Credit Act of 2021

This bill allows a manufacturer a zero-emission bus tax credit through 2026.

The credit is equal to 10% of the sales price of a zero-emission bus. The credit only applies to the first $1 million of a vehicle's sales price and to buses used primarily in the United States and its possessions.

The bill defines zero-emission bus as a motor vehicle that has a gross vehicle weight rating of not less than 14,000 pounds, is not powered or charged by an internal combustion engine, is propelled solely by an electric motor that draws electricity from a battery or fuel cell, and is designed to carry 15 or more passengers.

Bill 117 HR 583, also known as the Green Bus Tax Credit Act of 2021, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to provide tax credits to encourage the purchase of electric or zero-emission buses for public transportation systems.

Under this bill, public transportation agencies would be eligible to receive a tax credit of up to 30% of the cost of purchasing electric or zero-emission buses. This tax credit would help offset the higher upfront costs associated with these types of buses, making them more financially feasible for public transportation agencies to invest in.

The bill also includes provisions for the establishment of a grant program to assist public transportation agencies in transitioning to electric or zero-emission buses. This grant program would provide funding for the purchase of charging infrastructure, training for maintenance personnel, and other related expenses. Overall, the Green Bus Tax Credit Act of 2021 aims to promote the adoption of environmentally friendly buses in public transportation systems across the country. By providing tax credits and grants to support the purchase and operation of electric or zero-emission buses, this bill seeks to reduce greenhouse gas emissions, improve air quality, and promote sustainable transportation options.