{"id":189,"date":"2009-01-30T16:39:46","date_gmt":"2009-01-30T16:39:46","guid":{"rendered":"http:\/\/smallvehicles.wordpress.com\/?p=189"},"modified":"2009-01-30T16:39:46","modified_gmt":"2009-01-30T16:39:46","slug":"lsvs-will-be-hurt-by-proposed-changes-to-plug-in-electric-vehicle-tax-credit","status":"publish","type":"post","link":"https:\/\/smallvehicleresource.com\/blog\/2009\/01\/30\/lsvs-will-be-hurt-by-proposed-changes-to-plug-in-electric-vehicle-tax-credit\/","title":{"rendered":"LSVs Will Be Hurt By Proposed Changes To Plug-In Electric Vehicle Tax Credit"},"content":{"rendered":"<p>The Senate Finance Committee is currently proposing changes to the plug-in electric drive motor vehicle credit by increasing the 250,000 vehicle limitation to 500,000.  The bad news for LSV manufacturers and purchasers is that the changes also <strong>exclude<\/strong> low speed vehicles from qualifying for the credit.  Instead they are creating a separate tax credit for LSVs, motorcycles and three-wheel vehicles of 10% up to $4,000.  The credit will be good for vehicles sold before 2012.<\/p>\n<p>Given the price ranges of current LSVs and three wheel vehicles, the changes mean a significant reduction in the tax credit for these vehicles.  The original tax credit started at $2,500 and increased for vehicles with battery packs over 4KW in power.  As I interpret it, a $10,000 to $15,000 LSV will now only receive a tax credit of $1,000 &#8211; $1,500, a sixty to forty percent reduction in the tax credit that would be available under the current law.<\/p>\n<p>On a related note, according to people I spoke with at the <a href=\"http:\/\/www.electricdrive.org\/index.php\" target=\"_blank\" rel=\"nofollow\">Electric Drive Transportation Association<\/a>, the IRS has still not ruled on the eligibility of various vehicles under the current tax credit rules .<\/p>\n<p>Original story <a href=\"http:\/\/www.greencarcongress.com\/2009\/01\/senate-finance.html\" target=\"_blank\" rel=\"nofollow\">greencarcongress.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Senate Finance Committee is currently proposing changes to the plug-in electric drive motor vehicle credit by increasing the 250,000 vehicle limitation to 500,000. The bad news for LSV manufacturers and purchasers is that the changes also exclude low speed &hellip; <a href=\"https:\/\/smallvehicleresource.com\/blog\/2009\/01\/30\/lsvs-will-be-hurt-by-proposed-changes-to-plug-in-electric-vehicle-tax-credit\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,18,21],"tags":[1274,1370],"class_list":["post-189","post","type-post","status-publish","format-standard","hentry","category-electric-vehicles","category-nev","category-regulation-policy","tag-tax-credit","tag-us-senate"],"_links":{"self":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/189"}],"collection":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/comments?post=189"}],"version-history":[{"count":0,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/189\/revisions"}],"wp:attachment":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/media?parent=189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/categories?post=189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/tags?post=189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}