II 117TH CONGRESS 1ST SESSION S. 1969 To amend the Internal Revenue Code of 1986 to terminate the credit for new qualified plug-in electric drive motor vehicles. IN THE SENATE OF THE UNITED STATES JUNE 8, 2021 Mr. BARRASSO introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to terminate the credit for new qualified plug-in electric drive motor vehicles. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Eliminate Lavish In- 4 centives To Electric Vehicles Act’’ or the ‘‘ELITE Vehi- 5 cles Act’’. 6 VerDate Sep 11 2014 02:34 Jun 17, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1969.IS S1969 kjohnson on DSK79L0C42PROD with BILLS 2 •S 1969 IS SEC. 2. TERMINATION AND REPEAL OF CREDIT FOR NEW 1 QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR 2 VEHICLES. 3 (a) TERMINATION.—Section 30D of the Internal Rev- 4 enue Code of 1986 is amended by adding at the end the 5 following new subsection: 6 ‘‘(h) TERMINATION.—Notwithstanding any of the 7 preceding provisions of this section, this section shall not 8 apply to vehicles placed in service after the date that is 9 30 days after the date of the enactment of this sub- 10 section.’’. 11 (b) REPEAL.— 12 (1) IN GENERAL.—Subpart B of part IV of 13 subchapter A of chapter 1 of the Internal Revenue 14 Code of 1986 is amended by striking section 30D 15 (and by striking the item relating to such section in 16 the table of sections for such subpart). 17 (2) CONFORMING AMENDMENTS.— 18 (A) Section 38(b) of the Internal Revenue 19 Code of 1986 is amended by striking paragraph 20 (30). 21 (B) Section 1016(a) of such Code is 22 amended by striking paragraph (37). 23 (C) Section 6501(m) of such Code is 24 amended by striking ‘‘30D(e)(4),’’. 25 VerDate Sep 11 2014 02:34 Jun 17, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S1969.IS S1969 kjohnson on DSK79L0C42PROD with BILLS 3 •S 1969 IS (3) EFFECTIVE DATE.—The amendments made 1 by this subsection shall apply to taxable years begin- 2 ning after the date that is 1 year and 30 days after 3 the date of the enactment of this Act. 4 Æ VerDate Sep 11 2014 02:34 Jun 17, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\S1969.IS S1969 kjohnson on DSK79L0C42PROD with BILLS