Electric Bicycle Incentive Kickstart for the Environment Act or the E-BIKE Act This bill allows a refundable tax credit for 30% of the cost of a qualified electric bicycle. The credit is limited to $1,500 per taxpayer less all credits allowed for the two preceding taxable years. A qualified electric bicycle is a two- or three-wheeled vehicle that is, among other things, equipped with an electric motor of less than 750 watts that is capable of propelling such vehicle.