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Green Bus Tax Credit Act of 2021
3/8/2023, 8:12 PM
Congressional Summary of S 494
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, is designed to carry 15 or more passengers, and satisfies Buy America requirements.
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Current Status of Bill S 494
Bill S 494 is currently in the status of Bill Introduced since March 1, 2021. Bill S 494 was introduced during Congress 117 and was introduced to the Senate on March 1, 2021. Bill S 494's most recent activity was Read twice and referred to the Committee on Finance. as of March 1, 2021
Bipartisan Support of Bill S 494
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 494
Primary Policy Focus
TaxationPotential Impact Areas
- Alternative and renewable resources
- Energy efficiency and conservation
- Hybrid, electric, and advanced technology vehicles
- Income tax credits
- Motor carriers
- Public transit
Alternate Title(s) of Bill S 494
Green Bus Tax Credit Act of 2021
A bill to amend the Internal Revenue Code of 1986 to provide for a credit for zero-emission buses.
Green Bus Tax Credit Act of 2021
Comments
Sponsors and Cosponsors of S 494
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