,,ii #aagth ,,congress #ast ,session ,s4 #agia ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #bd1 #bjba,ms4 ,cantwell introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to expand existing tax credits to include non-passenger electric-powered vehicles1 associated recharging and refueling infrastructure1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,fueling ,america's ,security and ,transportation with ,electricity ,act of #bjba or the ,,fast ,electricity ,act4 #b4 ,credit for qualified electric transportation options 7a7 ,in general ,section #cj;,d of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 in the heading1 by striking plug-in electric drive motor and inserting electric1 7#b7 by adding at the end the following new subsection3 7h7 ,credit allowed for qualified electric transportation options 7#a7 ,in general ,in the case of a qualified electric transportation option-- 7,a7 there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the applicable percentage of the cost of the qualified electric transportation option placed in service by the taxpayer during the taxable year1 7,b7 the amount of the credit allowed under subparagraph 7,a7 shall be treated as a credit allowed under subsection 7a71 and 7,c7 the requirements described in subsection 7f77#g7 shall not apply4 7#b7 ,applicable percentage ,for purposes of paragraph 7#a77;,a71 the applicable percentage shall be-- 7,a7 in the case of a qualified electric transportation option placed in service after ,december #ca1 #bjba1 and before ,january #a1 #bjbh1 #cj percent1 7,b7 in the case of a qualified electric transportation option placed in service during a calendar year after #bjbg and before #bjcc1 the applicable percentage determined under this paragraph for the preceding calendar year1 reduced by #e percentage points1 and 7,c7 in the case of a qualified electric transportation option placed in service after calendar year #bjcb1 #j percent4 7#c7 ,qualified electric transportation option 7,a7 ,in general ,for purposes of this subsection1 the term qualified electric transportation option means any vehicle used in any manner of transportation which-- 7i7 the original use of which commences with the taxpayer1 7ii7 is acquired for use or lease by the taxpayer and not for resale1 7iii7 is capable of moving passengers1 cargo1 or property1 7iv7 is powered by an integrated1 on-board electric propulsion system that-- 7,i7 is the primary source of propulsion1 7,,ii7 is capable of powering the vehicle 7including any of its components and accessories7 for not less than #b_/c of the maximum operating period between recharging or refueling of such vehicle1 and 7,,iii7 in the case of a vehicle which derives any of its power from the on-board combustion of a fuel1 uses a renewable fuel1 7v7 was manufactured for sale in commercial quantities with a reasonable expectation of profit1 7vi7 is in compliance with any applicable safety or air quality standards1 as determined by the ,secretary in coordination with the ,secretary of ,transportation1 the ,secretary of ,homeland ,security1 and the ,administrator of the ,environmental ,protection ,agency1 and 7vii7 is not a new qualified plug-in electric drive motor vehicle 7as defined in subsection 7d77#a771 unless the vehicle-- 7,i7 has a gross vehicle weight rating of not less than #c1jjj pounds and not more than #ad1jjj pounds1 7,,ii7 has no more than #b seats1 including the driver's seat1 7,,iii7 uses the majority of its interior space to carry cargo1 7,,iv7 is primarily used for delivering commercial cargo1 and 7,v7 does not use any energy which is derived from the on-board combustion of a fuel4 7,b7 ,on-board electric propulsion system ,for purposes of this subsection1 the term on-board electric propulsion system means-- 7i7 #a or more on-board traction batteries which-- 7,i7 are integrated or swappable1 and 7,,ii7 have an aggregate capacity 7as defined in subsection 7d77#d77 of not less than #h kilowatt hours1 or 7ii7 an on-board power source other than a battery with an electrical output capacity equivalent of not less than #h kilowatt hours1 as determined by the ,secretary4 7,c7 ,renewable fuel ,for purposes of this paragraph1 the term renewable fuel means any fuel at least #he percent of the volume of which consists of one or more of the following3 7i7 ,ethanol4 7ii7 ,biodiesel 7as defined in section #dj;,a7d77#a774 7iii7 ,advanced biofuel 7as defined in section #baa7o77#a77;,b7 of the ,clean ,air ,act 7#db ,u4,s4,c4 #gede7o77#a77;,b7774 7iv7 ,renewable natural gas4 7v7 ,hydrogen4 7#d7 ,exclusion ,for purposes of paragraph 7#a77;,a71 the cost of the qualified electric transportation option shall not include any cost relating to any component or feature which-- 7,a7 is not integral to the qualified electric transportation option1 or 7,b7 does not contribute to improving the efficiency or range of the electric propulsion of the qualified electric transportation option4 4 7b7 ,conforming amendments 7#a7 ,section #ch7;b77#cj7 of the ,internal ,revenue ,code of #aihf is amended by striking plug-in electric drive motor and inserting electric4 7#b7 ,section #dh;,c7c77#a77;,a77i77,,vi7 of such ,code is amended by inserting or qualified electric transportation options after new qualified plug-in electric drive motor vehicles4 7#c7 ,the item relating to section #cj;,d in the table of sections for subpart ,b of part ,,iv of subchapter ,a of chapter #a of such ,code is amended to read as follows3 ,sec4 #cj;,d4 ,new ,qualified ,electric ,vehicles4 4 7c7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjba4 #c4 ,credit for qualified electric vehicle recharging property 7a7 ,in general ,section #cj;,c of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 in subsection 7a7-- 7,a7 by inserting the sum of after equal to1 and 7,b7 by inserting and the applicable percentage of the cost of any qualified electric vehicle recharging property before placed in service1 7#b7 in subsection 7c77#b71 by striking subparagraph 7,c71 7#c7 in subsection 7e77#b71 by inserting or qualified electric vehicle recharging property after qualified alternative fuel vehicle refueling property1 7#d7 by redesignating subsections 7f7 and 7g7 as subsections 7g7 and 7h71 respectively1 7#e7 by inserting after subsection 7e7 the following3 7f7 ,qualified electric vehicle recharging property 7#a7 ,in general ,for purposes of this section1 the term qualified electric vehicle recharging property means any property1 including any onsite component1 device1 or software integral to its performance 7with the exception of a building or its structural components or any associated offsite infrastructure71 which satisfies applicable industry safety standards and provides non-proprietary-- 7,a7 recharging or repowering of any qualified electric transportation option or new qualified plug-in electric drive motor vehicle 7as defined in section #cj;,d71 or 7,b7 storage and dispensing of hydrogen fuel into the fuel tank of a vehicle with an on-board electric propulsion system 7as defined in section #cj;,d7h77#c77;,b771 but only if the storage and dispensing of the fuel is at the point where such fuel is delivered to the vehicle4 7#b7 ,applicable percentage ,for purposes of subsection 7a71 in the case of any qualified electric vehicle recharging property1 the applicable percentage shall be-- 7,a7 in the case of any property placed in service after ,december #ca1 #bjba1 and before ,january #a1 #bjbh1 #cj percent1 7,b7 in the case of any property placed in service during a calendar year after #bjbh and before #bjcc1 the applicable percentage determined under this paragraph for the preceding calendar year1 reduced by #e percentage points1 and 7,c7 in the case of any property placed in service after calendar year #bjcb1 #j percent4 7#c7 ,termination ,for purposes of any qualified electric vehicle recharging property1 this section shall not apply to any property placed in service after ,december #ca1 #bjcb4 1 and 7#f7 in subsection 7h71 as redesignated by paragraph 7#d7-- 7,a7 in the heading1 by inserting for qualified alternative fuel vehicle refueling property after ,termination1 and 7,b7 by striking property and inserting qualified alternative fuel vehicle refueling property4 7b7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjba4 #d4 ,loan guarantees for transportation electrification domestic manufacturing capacity ,section #acf of the ,energy ,independence and ,security ,act of #bjjg 7#db ,u4,s4,c4 #agjac7 is amended-- 7#a7 in subsection 7a7-- 7,a7 in paragraph 7#a7-- 7i7 in subparagraph 7,c71 by striking the period at the end and inserting 2 and2 7ii7 by redesignating subparagraphs 7,a7 through 7,c7 as clauses 7i7 through 7iii71 respectively1 and indenting appropriately2 7iii7 in the matter preceding clause 7i7 7as so redesignated71 by striking means an ultra and inserting the following3 means-- 7,a7 an ultra 2 and 7iv7 by adding at the end the following3 7,b7 a medium-duty vehicle or a heavy-duty vehicle that exceeds #abe percent of the greenhouse gas emissions and fuel efficiency standards established by the final rule entitled ,greenhouse ,gas ,emissions and ,fuel ,efficiency ,standards for ,medium- and ,heavy-,duty ,engines and ,vehicles--,phase #b 7#ha ,fed4 ,reg4 #gcdgh 7,october #be1 #bjaf774 2 7,b7 in paragraph 7#c7-- 7i7 in subparagraph 7,a71 by inserting 1 qualified electric transportation options1 or qualified electric vehicle recharging properties after advanced technology vehicles2 and 7ii7 in subparagraph 7,b71 by striking or advanced technology vehicles and inserting 1 advanced technology vehicles1 qualified electric transportation options1 or qualified electric vehicle recharging properties2 7,c7 in paragraph 7#d71 by inserting 1 qualified electric transportation options1 or qualified electric vehicle recharging properties after advanced technology vehicles each place it appears2 7,d7 by redesignating paragraphs 7#d7 and 7#e7 as paragraphs 7#f7 and 7#g71 respectively2 and 7,e7 by inserting after paragraph 7#c7 the following3 7#d7 ,qualified electric transportation option ,the term qualified electric transportation option has the meaning given the term in section #cj;,d7h77#c77;,a7 of the ,internal ,revenue ,code of #aihf4 7#e7 ,qualified electric vehicle recharging property ,the term qualified electric vehicle recharging property has the meaning given the term in section #cj;,c7f7 of the ,internal ,revenue ,code of #aihf4 2 7#b7 in subsection 7b7-- 7,a7 in the matter preceding paragraph 7#a71 by inserting qualified electric transportation option manufacturers1 qualified electric vehicle recharging property manufacturers1 before and component suppliers2 7,b7 in paragraph 7#a7-- 7i7 in subparagraph 7,b71 by striking or at the end2 7ii7 in subsection 7,c71 by striking and at the end2 and 7iii7 by adding at the end the following3 7,d7 qualified electric transportation options2 or 7,e7 qualified electric vehicle recharging properties2 and 2 and 7,c7 in paragraph 7#b71 by inserting qualified electric transportation options1 qualified electric vehicle recharging properties1 before and qualifying components2 7#c7 in subsection 7c71 by striking ,december #cj1 #bjbj each place it appears and inserting ,december #ca1 #bjcj2 7#d7 in subsection 7g71 in the first sentence1 by inserting 1 qualified electric transportation options1 or qualified electric vehicle recharging properties before the period at the end2 7#e7 in subsection 7h77#a71 by striking subparagraph 7,b7 and inserting the following3 7,b7 manufactures-- 7i7 ultra efficient vehicles2 7ii7 automobiles or components of automobiles2 7iii7 qualified electric transportation options or components of qualified electric transportation options2 or 7iv7 qualified electric vehicle recharging properties or components of qualified electric vehicle recharging properties4 2 and 7#f7 in subsection 7i71 by striking fiscal years #bjjh through #bjab and inserting fiscal years #bjba through #bjcb4