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REVOKE Act of 2023

USA118th CongressS-756| Senate 
| Updated: 3/9/2023
Marco Rubio

Marco Rubio

Republican Senator

Florida

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Restricting Electric Vehicle Outlays from Kleptomaniac Enemies Act of 2023 or the REVOKE Act of 2023 This bill expands prohibitions under the clean vehicle tax credit on battery components manufactured or assembled by a foreign entity of concern to a domestic corporation that is controlled by, operated by, or under the substantial influence of a foreign entity of concern (e.g., a state-backed Chinese company); a domestic corporation that relies on technology provided through a licensing agreement with a foreign entity of concern; a foreign corporation organized outside of China, Russia, North Korea, and Iran but that is owned more than 20% by 1 or more foreign entities of concern; or any member or partner of a joint venture or partnership in which at least one other partner or member is a foreign entity of concern. The bill also renders ineligible for the qualifying advanced energy project tax credit any project that incorporates or utilizes technology provided through a licensing agreement with the foreign entities of concern described by this bill.
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Timeline
Mar 9, 2023
Introduced in Senate
Mar 9, 2023
Read twice and referred to the Committee on Finance.
  • March 9, 2023
    Introduced in Senate


  • March 9, 2023
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 118-2951: No American Tax Dollars To CCP Act

REVOKE Act of 2023

USA118th CongressS-756| Senate 
| Updated: 3/9/2023
Restricting Electric Vehicle Outlays from Kleptomaniac Enemies Act of 2023 or the REVOKE Act of 2023 This bill expands prohibitions under the clean vehicle tax credit on battery components manufactured or assembled by a foreign entity of concern to a domestic corporation that is controlled by, operated by, or under the substantial influence of a foreign entity of concern (e.g., a state-backed Chinese company); a domestic corporation that relies on technology provided through a licensing agreement with a foreign entity of concern; a foreign corporation organized outside of China, Russia, North Korea, and Iran but that is owned more than 20% by 1 or more foreign entities of concern; or any member or partner of a joint venture or partnership in which at least one other partner or member is a foreign entity of concern. The bill also renders ineligible for the qualifying advanced energy project tax credit any project that incorporates or utilizes technology provided through a licensing agreement with the foreign entities of concern described by this bill.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 9, 2023
Introduced in Senate
Mar 9, 2023
Read twice and referred to the Committee on Finance.
  • March 9, 2023
    Introduced in Senate


  • March 9, 2023
    Read twice and referred to the Committee on Finance.
Marco Rubio

Marco Rubio

Republican Senator

Florida

Finance Committee

Taxation

Related Bills

  • HR 118-2951: No American Tax Dollars To CCP Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted