Tax Credit

[Lhshockey24]

Effective date.−The provision applies to taxable years beginning after December 31,
2017.
Senate Amendment
No provision.
Conference Agreement
The conference agreement does not include the House bill provision.
3. Repeal of credit for plug-in electric drive motor vehicles (sec. 1102(c) of the House bill
and sec. 30D of the Code)
Present Law
A credit is available for new four-wheeled vehicles (excluding low speed vehicles and
vehicles weighing 14,000 pounds or more) propelled by a battery with at least 4 kilowatt-hours
of electricity that can be charged from an external source.80 The base credit is $2,500 plus $417
for each kilowatt-hour of additional battery capacity in excess of 4 kilowatt-hours (for a
maximum credit of $7,500). Qualified vehicles are subject to a 200,000 vehicle-permanufacturer limitation. Once the limitation has been reached the credit is phased down over
four calendar quarters.
House Bill
The provision repeals the credit for plug-in electric drive motor vehicles.
Effective date.−The provision is effective for vehicles placed in service in taxable years
beginning after December 31, 2017.
Senate Amendment
No provision.

Full text: Republicans unveil their final tax bill

 

[Cosmacelf]

Your post is as clear as mud.

 

[redan]

Huh? Everyone (except for you) is reporting the credit is safe. Read the below posted by @bruinjacket among the many other posts and news articles:

You guys like reading a wall of text? Here it is (scroll down to conference agreement)! Source: Conference Report to Accompany H.R. 1—Tax Cuts and Jobs Act | House Committee on Rules

Repeal of credit for plug-in electric drive motor vehicles (sec. 1102(c) of the House bill and sec. 30D of the Code)

Present Law

A credit is available for new four-wheeled vehicles (excluding low speed vehicles and vehicles weighing 14,000 pounds or more) propelled by a battery with at least 4 kilowatt-hours of electricity that can be charged from an external source.80 The base credit is $2,500 plus $417 for each kilowatt-hour of additional battery capacity in excess of 4 kilowatt-hours (for a maximum credit of $7,500). Qualified vehicles are subject to a 200,000 vehicle-per- manufacturer limitation. Once the limitation has been reached the credit is phased down over four calendar quarters.

House Bill

The provision repeals the credit for plug-in electric drive motor vehicles.

Effective date.−The provision is effective for vehicles placed in service in taxable years beginning after December 31, 2017.

Senate Amendment

No provision.

Conference Agreement

The conference agreement does not include the House bill provision.

 

[Lhshockey24]

The conference agreement does not include the House bill provision.

I'm an idiot...I didn't understand what this line meant! Now trying to figure out how to edit original post title...

 

[ItsNotAboutTheMoney]

"The conference agreement does not include the House bill provision"
=> No provision
=> No change
=> Credit retained.

 

[ggr]

As of this afternoon, the house and senate bills are exactly the same. They have to be, or the senate one will require 60 votes to pass... which it wouldn't. The provision was dropped from the reconciled bills, so the tax credit remains.

 

[Lhshockey24]

"The conference agreement does not include the House bill provision"
=> No provision
=> No change
=> Credit retained.

Yup - I messed up. If anyone knows a moderator feel free to take this thread down. I'll spend some time to reflect on my mistakes this weekend.

 

[MP3Mike]

That doesn't agree with this report: Republican tax bill retains U.S. electric vehicle tax credit

 

[bruinjacket]

I'll spend some time to reflect on my mistakes this weekend.

On a similar note, I look forward to making many mistakes this weekend

 

[KJD]

Yup - I messed up. If anyone knows a moderator feel free to take this thread down. I'll spend some time to reflect on my mistakes this weekend.

Use the "report" button on the first post and just ask the mods to change the title.

 

[Patrick W]

Use the "report" button on the first post and just ask the mods to change the title.

Or delete the thread entirely.

 

[Dr. J]

Yup - I messed up. If anyone knows a moderator feel free to take this thread down. I'll spend some time to reflect on my mistakes this weekend.

And count your tax credit money at the appropriate time. Everybody makes mistakes. Cheers!

 

[nyseman]

Yup - I messed up. If anyone knows a moderator feel free to take this thread down. I'll spend some time to reflect on my mistakes this weekend.

There are too many fake articles floating around the internet that are taken at face value.

I want to commend you for actually reading through the bill yourself and drawing your own conclusions. Your approach is something we should all be doing. In this particular case, you may be wrong, but your efforts are appreciated.

 

[bmah]

Moderator note: Changed thread title to reflect reality, per multiple reports.

Bruce.

 

[CBPfromTN]

So......I guess I am too dumb to comprehend. HAS the decision been made? Is the tax credit going to continue into 2018 or not? Thank you for responding, I can't figure this one out from this thread. (My Model S will not be delivered until February 2018, so this is of great interest to me.) Thanks, everyone!

 

[redan]

So......I guess I am too dumb to comprehend. HAS the decision been made? Is the tax credit going to continue into 2018 or not? Thank you for responding, I can't figure this one out from this thread. (My Model S will not be delivered until February 2018, so this is of great interest to me.) Thanks, everyone!

No bill has been approved yet. But the one that represents the Committee reconciliation keeps the tax credit intact with no changes. Assuming that bill gets approved by Congress and signed by the President, the tax credit is safe.

 

[CBPfromTN]

No bill has been approved yet. But the one that represents the Committee reconciliation keeps the tax credit intact with no changes. Assuming that bill gets approved by Congress and signed by the President, the tax credit is safe.

Thank you, jareade! I wonder how the best way to find out what eventually happens, would you have any suggestions? I try to watch the news but I haven't heard anything about this subject except here on this site. It's probably not something MOST people will be interested in enough for it to be reported widely. Appreciate the response! Thank you. CBP

 

[redan]

I wonder how the best way to find out what eventually happens, would you have any suggestions?

Watch this thread! And TMC generally. This is a very discussed topic and the impact on the tax credit will be very clear (and discussed in depth on this site) if a tax bill is ultimately passed.

 

[bruinjacket]

Assuming that bill gets approved by Congress and signed by the President, the tax credit is safe.

If the bill does not get approved/signed, the tax credit would still be safe. The (now very small) risk is if the bill fails and they reconcile again next year and take it out.

 

[cybergates]

so with the bill signed our tax credit is safe?