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S. 493 - Would Provide Zero-Emission Vehicle Facility Incentives

MAR. 1, 2021

S. 493; Would Provide Zero-Emission Vehicle Facility Incentives

DATED MAR. 1, 2021
DOCUMENT ATTRIBUTES
  • Authors
    Cortez Masto, Sen. Catherine
  • Institutional Authors
    U.S. Senate
    U.S. Senate Finance Committee
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Energy
  • Jurisdictions
  • Tax Analysts Document Number
    2021-13086
  • Tax Analysts Electronic Citation
    2021 TNTF 60-16
Citations: S. 493; Would Provide Zero-Emission Vehicle Facility Incentives

117TH CONGRESS
1ST SESSION

S. 493

To amend the Internal Revenue Code of 1986
to provide for the issuance of exempt facility bonds
for zero-emission vehicle infrastructure.

IN THE SENATE OF THE UNITED STATES

MARCH 1, 2021

Ms. CORTEZ MASTO (for herself, Ms. SMITH, and Ms. ROSEN)
introduced the following bill; which was read twice
and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to provide for the issuance of exempt facility bonds for zero-emission vehicle infrastructure.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. EXEMPT FACILITY BONDS FOR ZERO-EMISSION VEHICLE INFRASTRUCTURE.

(a) IN GENERAL. — Section 142 of the Internal Revenue Code of 1986 is amended — 

(1) in subsection (a) — 

(A) in paragraph (14), by striking "or" at the end;

(B) in paragraph (15), by striking the period at the end and inserting ", or"; and

(C) by adding at the end the following new paragraph:

"(16) zero-emission vehicle infrastructure."; and

(2) by adding at the end the following new subsection:

"(n) ZERO-EMISSION VEHICLE INFRASTRUCTURE. —

"(1) IN GENERAL. — For purposes of subsection (a)(16), the term 'zero-emission vehicle infrastructure' means any property (not including a building and its structural components) if such property is —

"(A) made available for use by members of the general public, and

"(B) used to charge or fuel zero-emissions vehicles, but only if the property is located at the point where the vehicles are charged or fueled.

"(2) INCLUSION OF UTILITY SERVICE CONNECTIONS. — The term 'zero-emission vehicle infrastructure' shall include any utility service connections, utility panel upgrades, or contributions in aid of construction (as described in section 118) which are required for the charging or fueling of zero-emissions vehicles.

"(3) ZERO-EMISSIONS VEHICLE. —

"(A) IN GENERAL. — The term 'zero-emissions vehicle' means —

"(i) a zero-emission vehicle as defined in section 88.102–94 of title 40, Code of Federal Regulations (as in effect on the date of enactment of this subsection), or

"(ii) a vehicle that, under any possible operational modes and conditions, produces zero exhaust emissions of —

"(I) any criteria pollutant for which there are national ambient air quality standards under section 109 of the Clean Air Act (42 U.S.C. 7409) or precursor pollutant, or

"(II) any greenhouse gas.

"(B) GREENHOUSE GAS. — For purposes of this paragraph, the term 'greenhouse gas' means any of the following:

"(i) Carbon dioxide.

"(ii) Methane.

"(iii) Nitrous oxide.

"(iv) Hydrofluorocarbons.

"(v) Perfluorocarbons.

"(vi) Sulfur hexafluoride.

"(4) ZERO-EMISSIONS VEHICLE INFRASTRUCTURE LOCATED WITHIN OTHER FACILITIES OR PROJECTS. — For purposes of subsection (a), any zero-emission vehicle infrastructure located within —

"(A) a facility or project described in subsection (a), or

"(B) an area adjacent to a facility or project described in subsection (a) that primarily serves vehicles traveling to or from such facility or project,

shall be treated as described in the paragraph in which such facility or project is described.".

(b) EFFECTIVE DATE. — The amendments made by this section shall apply to obligations issued after December 31, 2021.

DOCUMENT ATTRIBUTES
  • Authors
    Cortez Masto, Sen. Catherine
  • Institutional Authors
    U.S. Senate
    U.S. Senate Finance Committee
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Energy
  • Jurisdictions
  • Tax Analysts Document Number
    2021-13086
  • Tax Analysts Electronic Citation
    2021 TNTF 60-16
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