Qualified commercial clean vehicles

This provision will create a new tax credit for qualified commercial clean vehicles placed in service by the taxpayer during the year. The credit will be the lesser of 15% of the vehicle’s cost (30% for vehicles not powered by a gasoline or diesel internal combustion engine) or the incremental cost of the vehicle relative to a comparable vehicle.

The credit availability is further limited for such qualified commercial vehicles in the following manner: USD 7,500 for vehicles having a gross weight of less than 14,000 pounds (7 tonnes) and USD 40,000 for other commercial vehicles (e.g. school buses, heavy-duty municipal vehicles). Mobile machinery and qualified commercial fuel cell electric vehicles would also be eligible for this credit.

The credit would not