Electric Credit Access Ready at Sale Act of 2018 or the Electric CARS Act of 2018 This bill amends the Internal Revenue Code to modify and extend several tax credits related to electric cars. The bill extends the tax credit for new qualified plug-in electric drive motor vehicles through 2028. In addition, the bill modifies the credit to: remove the limitation on the number of vehicles per manufacturer that are eligible for the credit, allow a taxpayer to assign the credit to a financing entity, and allow an unused credit to be carried forward for five years. The bill also extends through 2028 the tax credits for: (1) alternative fuel vehicle refueling property, and (2) alternative motor vehicles.
Alternative and renewable resourcesEnergy efficiency and conservationHybrid, electric, and advanced technology vehiclesIncome tax credits
A bill to amend the Internal Revenue Code of 1986 to extend certain tax credits related to electric cars, and for other purposes.
USA115th CongressS-3449| Senate
| Updated: 9/17/2018
Electric Credit Access Ready at Sale Act of 2018 or the Electric CARS Act of 2018 This bill amends the Internal Revenue Code to modify and extend several tax credits related to electric cars. The bill extends the tax credit for new qualified plug-in electric drive motor vehicles through 2028. In addition, the bill modifies the credit to: remove the limitation on the number of vehicles per manufacturer that are eligible for the credit, allow a taxpayer to assign the credit to a financing entity, and allow an unused credit to be carried forward for five years. The bill also extends through 2028 the tax credits for: (1) alternative fuel vehicle refueling property, and (2) alternative motor vehicles.