This bill amends the Internal Revenue Code, with respect to the tax credit for new plug-in electric drive motor vehicles, to change the phase-out period for the credit to the period beginning with calendar year 2022.
(Under current law, the credit phases out for a manufacturer's vehicles over the one-year period beginning with the second calendar quarter after the calendar quarter in which at least 200,000 qualifying vehicles manufactured by that manufacturer have been sold for use in the United States after December 31, 2009.)