§ 30. Certain plug-in electric vehicles
(a)
Allowance of credit
There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 10 percent of the cost of any qualified plug-in electric vehicle placed in service by the taxpayer during the taxable year.
(b)
Per vehicle dollar limitation
The amount of the credit allowed under subsection (a) with respect to any vehicle shall not exceed $2,500.
(c)
Application with other credits
(1)
Business credit treated as part of general business credit
So much of the credit which would be allowed under subsection (a) for any taxable year (determined without regard to this subsection) that is attributable to property of a character subject to an allowance for depreciation shall be treated as a credit listed in section
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(b) for such taxable year (and not allowed under subsection (a)).
(2)
Personal credit
(A)
In general
For purposes of this title, the credit allowed under subsection (a) for any taxable year (determined after application of paragraph (1)) shall be treated as a credit allowable under subpart A for such taxable year.
(B)
Limitation based on amount of tax
In the case of a taxable year to which section
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(a)(2) does not apply, the credit allowed under subsection (a) for any taxable year (determined after application of paragraph (1)) shall not exceed the excess of—
(d)
Qualified plug-in electric vehicle
For purposes of this section—
(1)
In general
The term “qualified plug-in electric vehicle” means a specified vehicle—
(2)
Specified vehicle
The term “specified vehicle” means any vehicle which—
(e)
Special rules
(1)
Basis reduction
For purposes of this subtitle, the basis of any property for which a credit is allowable under subsection (a) shall be reduced by the amount of such credit so allowed.
(2)
No double benefit
The amount of any deduction or other credit allowable under this chapter for a new qualified plug-in electric drive motor vehicle shall be reduced by the amount of credit allowable under subsection (a) for such vehicle.
(3)
Property used by tax-exempt entity
In the case of a vehicle the use of which is described in paragraph (3) or (4) of section
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(b) and which is not subject to a lease, the person who sold such vehicle to the person or entity using such vehicle shall be treated as the taxpayer that placed such vehicle in service, but only if such person clearly discloses to such person or entity in a document the amount of any credit allowable under subsection (a) with respect to such vehicle (determined without regard to subsection (c)).