,i #aah? ,,congress #a/ ,session ,h4 ,r4 #afhe ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,m>* #ba1 #bjbc,mr4 ,panetta 7= himself1 ,mr4 ,blum5au]1 ,mr4 ,?ompson ( ,cali=nia1 & ,mr4 ,s*iff7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide a cr$it = ! pur*ase ( c]ta9 new electric bicycles4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,electric ,bicycle ,inc5tive ,kick/>t = ! ,environm5t ,act or z ! ,e-,,bike ,act4 #b4 ,cr$it = c]ta9 new electric bicycles 7a7 ,9 g5]al ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] section #cf;,b ! foll[+ new section3 #cf;,c4 ,electric bicycles 7a7 ,all[ance ( cr$it ,9 ! case ( an individual1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to #cj p]c5t ( ! co/ ( ea* qualifi$ electric bicycle plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye>4 7b7 ,limitations 7#a7 ,limitation on co/ p] bicycle tak5 into acc\nt ,! am\nt tak5 into acc\nt "u subsection 7a7 z ! co/ ( any qualifi$ electric bicycle %all n exce$ #e1jjj4 7#b7 ,limitation on numb] ( bicycles ,9 ! case ( any taxpay] = any taxable ye>1 ! numb] ( qualifi$ electric bicycles tak5 into acc\nt "u subsection 7a7 %all n exce$ ! excess 7if any7 (-- 7,a7 #a 7#b 9 ! case ( a jo9t return71 r$uc$ by 7,b7 ! aggregate numb] ( qualifi$ electric bicycles tak5 into acc\nt by ! taxpay] "u subsection 7a7 = ! #b prec$+ taxable ye>s4 7#c7 ,phase\t bas$ on income 7,a7 ,phase\t bas$ on modifi$ adju/$ gross income ,! cr$it all[$ "u subsection 7a7 %all be r$uc$ by #ajj = ea* #a1jjj 7or fraction !re(7 by :i* ! taxpay]'s modifi$ adju/$ gross income exce$s-- 7i7 #cjj1jjj 9 ! case ( a jo9t return or a surviv+ sp\se 7z def9$ 9 section #b7;a771 7ii7 #bbe1jjj 9 ! case ( a head ( h\sehold 7z def9$ 9 section #b7;b771 & 7iii7 #aej1jjj 9 ! case ( a taxpay] n describ$ 9 clause 7i7 or 7ii74 7,b7 ,special rule = modifi$ adju/$ gross income tak5 into acc\nt ,! modifi$ adju/$ gross income ( ! taxpay] t is tak5 into acc\nt = purposes ( subp>agraph 7,a7 %all be ! less] (-- 7i7 ! modifi$ adju/$ gross income = ! taxable ye> ) respect to :i* ! cr$it is claim$1 or 7ii7 ! modifi$ adju/$ gross income = ! imm$iately prec$+ taxable ye>4 7,c7 ,modifi$ adju/$ gross income ,= purposes ( subp>agraph 7,a71 ! t]m modifi$ adju/$ gross income means adju/$ gross income increas$ by any am\nt exclud$ f gross income "u section #iaa1 #ica1 or #icc4 7c7 ,qualifi$ electric bicycle ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ electric bicycle means a bicycle or tricycle-- 7,a7 ! orig9al use ( :i* comm5ces ) ! taxpay]1 7,b7 :i* is acquir$ = use by ! taxpay] & n = resale1 7,c7 :i* is n prop]ty ( a "* subject to an all[ance = depreciation or amortization 9 ! h&s ( ! taxpay]1 7,d7 :i* is made by a qualifi$ manufactur] & is label$ ) ! qualifi$ vehicle id5tification numb] assign$ to su* bicycle or tricycle by su* manufactur]1 7,e7 ) respect to :i* ! aggregate am\nt paid = su* acquisition does n exce$ #h1jjj1 7,f7 :i* is a class #a electric bicycle or tricycle1 a class #b electric bicycle or tricycle1 or a class #c electric bicycle or tricycle1 7,g7 :i* is equipp$ )-- 7i7 fully op]able p$als1 7ii7 a saddle or seat = ! rid]1 & 7iii7 an electric motor ( less ?an #gej watts :i* is design$ to provide assi/ance 9 propell+ ! bicycle or tricycle &-- 7,i7 does n provide su* assi/ance if ! bicycle or tricycle is mov+ 9 excess ( #bj mil] p] h\r1 or 7,,ii7 if su* motor only provides su* assi/ance :5 ! rid] is p$al+1 does n provide su* assi/ance if ! bicycle or tricycle is mov+ 9 excess ( #bh miles p] h\r1 7,h7 :i* is n equipp$ ) any motor o!r ?an ! motor describ$ 9 subp>agraph 7,g77iii71 7,i7 :i* is n capable ( exce$+ ! spe$ limitation 9 p>agraph 7#b7 by means ( any electronic swit*1 sett+ or s(tw>e modification provid$ or made available by ! manufactur]1 & 7,j7 :i* has a drive sy/em t has be5 c]tifi$ by an accr$it$ laboratory to ,und]writ]s ,laboratory 7,,ul7 /&>d ,,ul #bhdi1 or a batt]y t has be5 c]tifi$ to any ( ! batt]y safety /&>ds li/$ 9 su* /&>d ,,ul #bhdi or su* o!r drive sy/em or batt]y safety /&>d z may be recogniz$ by ! ,unit$ ,/ates ,consum] ,product ,safety ,commission4 7#b7 ,class #a electric bicycle or tricycle ,! t]m class #a electric bicycle or tricycle means a two- or ?ree-:eel$ vehicle equipp$ ) an electric motor t provides assi/ance only :5 ! rid] is p$al+1 t is n capable ( provid+ assi/ance :5 ! spe$ ( ! vehicle exce$s #bj miles p] h\r1 & t is n a class #c electric bicycle or tricycle4 7#c7 ,class #b electric bicycle or tricycle ,! t]m class #b electric bicycle or tricycle means a two- or ?ree-:eel$ vehicle equipp$ ) an electric motor t may be us$ to propel ! vehicle )\t ! ne$ ( any additional assi/ance1 & t is n capable ( provid+ assi/ance :5 ! spe$ ( ! vehicle exce$s #bj miles p] h\r4 7#d7 ,class #c electric bicycle or tricycle ,! t]m class #c electric bicycle or tricycle means a two- or ?ree-:eel$ vehicle equipp$ ) an electric motor t provides assi/ance only :5 ! rid] is p$al+1 & t is n capable ( provid+ assi/ance :5 ! spe$ ( ! vehicle exce$s #bh miles p] h\r4 7d7 ,special rule = bicycles us$ by an individual 9 a trade or bus9ess ,9 ! case ( any bicycle or tricycle ) respect to :i* ! taxpay] elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is subsection-- 7#a7 subsections 7c77#a77;,c7 & 7f77#b7 %all n apply ) respect to su* bicycle or tricycle1 & 7#b7 no d$uction 7includ+ any d$uction = depreciation or amortization7 or cr$it 7o!r ?an ! cr$it all[$ "u ?is section7 %all be all[$ = ! co/ ( su* bicycle or tricycle4 7e7 ,,v9 numb] requirem5t 7#a7 ,9 g5]al ,no cr$it %all be all[$ "u subsection 7a7 ) respect to any qualifi$ electric bicycle unless ! taxpay] includes ! qualifi$ vehicle id5tification numb] ( su* bicycle on ! return ( tax = ! taxable ye>4 7#b7 ,qualifi$ vehicle id5tification numb] ,= purposes ( ?is section1 ! t]m qualifi$ vehicle id5tification numb] means1 ) respect to any qualifi$ electric bicycle1 ! vehicle id5tification numb] assign$ to su* bicycle by a qualifi$ manufactur] pursuant to ! me?odology ref]r$ to 9 p>agraph 7#c77;,a74 7#c7 ,qualifi$ manufactur] ,= purposes ( ?is section1 ! t]m qualifi$ manufactur] means any manufactur] ( qualifi$ electric bicycles :i* ent]s into an agreem5t ) ! ,secret>y :i* provides t su* manufactur] w-- 7,a7 assign a vehicle id5tification numb] to ea* qualifi$ electric bicycle produc$ by su* manufactur] utiliz+ a me?odology t w ensure t su* numb] 7includ+ any alphanum]ic7 is unique to su* bicycle 7by utiliz+ numb]s or lett]s :i* are unique to su* manufactur] or by su* o!r me?od z ! ,secret>y may provide71 7,b7 label su* bicycle ) su* numb] 9 su* mann] z ! ,secret>y may provide1 & 7,c7 make p]iodic writt5 reports to ! ,secret>y 7at su* times & 9 su* mann] z ! ,secret>y may provide7 ( ! vehicle id5tification numb]s s assign$ & includ+ su* in=mation z ! ,secret>y may require ) respect to ! qualifi$ electric bicycle to :i* su* numb] 0 s assign$4 7f7 ,special rules 7#a7 ,basis r$uction ,= purposes ( ?is subtitle1 ! basis ( any prop]ty = :i* a cr$it is all[able "u subsection 7a7 %all be r$uc$ by ! am\nt ( su* cr$it s all[$4 7#b7 ,no d\ble b5efit ,! am\nt ( any d$uction or o!r cr$it all[able "u ?is *apt] = a qualifi$ electric bicycle = :i* a cr$it is all[able "u subsection 7a7 %all be r$uc$ by ! am\nt ( cr$it all[$ "u su* subsection = su* bicycle4 7#c7 ,prop]ty us$ outside unit$ /ates n qualifi$ ,no cr$it %all be all[able "u subsection 7a7 ) respect to any prop]ty ref]r$ to 9 section #ej7;b77#a74 7#d7 ,recapture ,! ,secret>y %all1 by regulations or o!r guidance1 provide = recaptur+ ! b5efit ( any cr$it all[able "u subsection 7a7 ) respect to any prop]ty :i* ceases to be prop]ty eligible = su* cr$it4 7#e7 ,election n to take cr$it ,no cr$it %all be all[$ "u subsection 7a7 = any qualifi$ electric bicycle if ! taxpay] elects to n h ?is section apply to su* bicycle4 7g7 ,treatm5t ( c]ta9 possessions 7#a7 ,paym5ts to possessions ) mirror code tax sy/ems ,! ,secret>y %all pay to ea* possession ( ! ,unit$ ,/ates :i* has a mirror code tax sy/em am\nts equal to ! loss 7if any7 to t possession by reason ( ! application ( ! provisions ( ?is section 7det]m9$ )\t reg>d to ?is subsection74 ,su* am\nts %all be det]m9$ by ! ,secret>y bas$ on in=mation provid$ by ! gov]nm5t ( ! respective possession4 7#b7 ,paym5ts to o!r possessions ,! ,secret>y %all pay to ea* possession ( ! ,unit$ ,/ates :i* does n h a mirror code tax sy/em am\nts e/imat$ by ! ,secret>y z be+ equal to ! aggregate b5efits 7if any7 t w\ld h be5 provid$ to resid5ts ( su* possession by reason ( ! provisions ( ?is section if a mirror code tax sy/em _h be5 9 effect 9 su* possession4 ,! prec$+ s5t5ce %all n apply unless ! respective possession has a plan :i* has be5 approv$ by ! ,secret>y "u :i* su* possession w promptly di/ribute su* paym5ts to its resid5ts4 7#c7 ,mirror code tax sy/em2 treatm5t ( paym5ts ,rules simil> to ! rules ( p>agraphs 7#c71 7#d71 & 7#e7 ( section #ba7;h7 %all apply = purposes ( ?is section4 7h7 ,transf] ( cr$it 7#a7 ,9 g5]al ,subject to su* regulations or o!r guidance z ! ,secret>y det]m9es necess>y or appropriate1 if ! taxpay] :o acquires a qualifi$ electric bicycle is an individual & elects ! application ( ?is subsection ) respect to su* qualifi$ electric bicycle1 ! cr$it :i* w\ld 7b = ?is subsection7 be all[$ to su* taxpay] ) respect to su* qualifi$ electric bicycle %all be all[$ to ! eligible entity specifi$ 9 su* election 7& n to su* taxpay]74 7#b7 ,eligible entity ,= purposes ( ?is p>agraph1 ! t]m eligible entity means1 ) respect to ! qualifi$ electric bicycle = :i* ! cr$it is all[$ "u subsection 7a71 ! retail] :i* sold su* qualifi$ electric bicycle to ! taxpay] & has-- 7,a7 subject to p>agraph 7#d71 regi/]$ ) ! ,secret>y = purposes ( ?is p>agraph1 at su* "t1 & 9 su* =m & mann]1 z ! ,secret>y may prescribe1 7,b7 prior to ! election describ$ 9 p>agraph 7#a7 & no lat] ?an at ! "t ( su* sale1 disclos$ to ! taxpay] pur*as+ su* qualifi$ electric bicycle-- 7i7 ! retail price1 7ii7 ! value ( ! cr$it all[$ or o!r inc5tive available = ! pur*ase ( su* qualifi$ electric bicycle1 7iii7 all fees associat$ ) ! pur*ase ( su* qualifi$ electric bicycle1 & 7iv7 ! am\nt provid$ by ! retail] to su* taxpay] z a condition ( ! election describ$ 9 p>agraph 7#a71 7,c7 made paym5t to su* taxpay] 7:e!r 9 ca% or 9 ! =m ( a p>tial paym5t or d[n paym5t = ! pur*ase ( su* qualifi$ electric bicycle7 9 an am\nt equal to ! cr$it o!rwise all[able to su* taxpay]1 & 7,d7 ) respect to any inc5tive o!rwise available = ! pur*ase ( a qualifi$ electric bicycle = :i* a cr$it is all[$ "u ?is section1 includ+ any inc5tive 9 ! =m ( a rebate or disc\nt provid$ by ! retail] or manufactur]1 ensur$ t-- 7i7 ! availability or use ( su* inc5tive %all n limit ! ability ( a taxpay] to make an election describ$ 9 p>agraph 7#a71 & 7ii7 su* election %all n limit ! value or use ( su* inc5tive4 7#c7 ,tim+ ,an election describ$ 9 p>agraph 7#a7 %all be made by ! taxpay] n lat] ?an ! date on :i* ! qualifi$ electric bicycle = :i* ! cr$it is all[$ "u subsection 7a7 is pur*as$4 7#d7 ,revocation ( regi/ration ,^u det]m9ation by ! ,secret>y t a retail] has fail$ to comply ) ! requirem5ts describ$ 9 p>agraph 7#b71 ! ,secret>y may revoke ! regi/ration 7z describ$ 9 subp>agraph 7,a7 ( su* p>agraph7 ( su* retail]4 7#e7 ,tax treatm5t ( paym5ts ,) respect to any paym5t describ$ 9 p>agraph 7#b77;,c71 su* paym5t-- 7,a7 %all n be includible 9 ! gross income ( ! taxpay]1 & 7,b7 ) respect to ! retail]1 %all n be d$uctible "u ?is title4 7#f7 ,application ( c]ta9 o!r requirem5ts ,9 ! case ( any election "u p>agraph 7#a7 ) respect to any qualifi$ electric bicycle-- 7,a7 ! am\nt ( ! r$uction "u subsection 7b7 %all be det]m9$ ) respect to ! modifi$ adju/$ gross income ( ! taxpay] = ! taxable ye> prec$+ ! taxable ye> 9 :i* su* qualifi$ electric bicycle 0 acquir$ 7& n ) respect to su* income = ! taxable ye> 9 :i* su* qualifi$ electric bicycle 0 acquir$71 7,b7 ! requirem5ts ( p>agraphs 7#a7 & 7#b7 ( subsection 7f7 %all apply to ! taxpay] :o acquir$ ! qualifi$ electric bicycle 9 ! same mann] z if ! cr$it det]m9$ "u ?is section ) respect to su* qualifi$ electric bicycle 7 all[$ to su* taxpay]1 & 7,c7 subsection 7f77#e7 %all n apply4 7#g7 ,advance paym5t to regi/]$ retail]s 7,a7 ,9 g5]al ,! ,secret>y %all e/abli% a program to make advance paym5ts to any eligible entity 9 an am\nt equal to ! cumulative am\nt ( ! cr$its all[$ "u subsection 7a7 ) respect to any qualifi$ electric bicycles sold by su* entity = :i* an election describ$ 9 p>agraph 7#a7 has be5 made4 7,b7 ,excessive paym5ts ,rules simil> to ! rules ( section #fdag7;c77#f7 %all apply = purposes ( ?is p>agraph4 7#h7 ,retail] ,= purposes ( ?is subsection1 ! t]m retail] means a p]son engag$ 9 ! trade or bus9ess ( sell+ qualifi$ electric bicycles 9 a ,/ate1 ! ,di/rict ( ,columbia1 ! ,commonweal? ( ,pu]to ,rico1 or any o!r t]ritory or possession ( ! ,unit$ ,/ates4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ajaf7;a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ & at ! end ( p>agraph 7#cg71 by /rik+ ! p]iod at ! end ( p>agraph 7#ch7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#ci7 to ! ext5t provid$ 9 section #cf;,c7f77#a74 4 7#b7 ,section #fbaa7;b77#d77;,a7 ( su* ,code is am5d$ by ins]t+ #cf;,c1 aft] #cf;,b14 7#c7 ,section #fbac7;g77#b7 ( su* ,code is am5d$-- 7,a7 9 subp>agraph 7,u71 by /rik+ & at ! end1 7,b7 9 subp>agraph 7,v71 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7,c7 by add+ at ! end ! foll[+3 7,w7 an omission ( a correct vehicle id5tification numb] requir$ "u section #cf;,c7e7 7relat+ to electric bicycles cr$it7 to be includ$ on a return4 4 7#d7 ,section #feja7m7 ( su* ,code is am5d$ by ins]t+ #cf;,c7f77#e71 aft] #ce7;g77#aa714 7#e7 ,section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ #cf;,c1 aft] #cf;,b14 7c7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #cf;,c4 ,electric bicycles4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ! date ( ! enactm5t ( ?is ,act1 9 taxable ye>s end+ aft] su* date4 7e7 ,treasury report ,n lat] ?an #c ye>s aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all make publicly available a writt5 report specify+ ! numb] ( taxpay]s claim+ ! cr$it all[$ "u section #cf;,c ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by ?is section7 & ! aggregate doll> am\nt ( su* cr$its s all[$4 ,su* in=mation %all be /at$ sep>ately = taxable ye>s beg9n+ 9 #bjbc & #bjbd1 & %all be /at$ sep>ately ) respect to ea* su* ye>s ) respect to taxpay]s 9 ea* ( ! income brackets to :i* section #a ( su* ,code applies4