Agency: Department of the Treasury
Description:
Tax credit for certain fueling equipment for 85% ethanol, natural gas, compressed or liquified natural gas, liquefied petroleum gas or hydrogen; 20% (or more) biodiesel; or electricity.
Bill Section:
13404
US Code:
26 USC 30C
New or Existing:
Existing
Potential Cost:
$1,700,000,000
Timeline:
2022 – 2032
Implementation Status/Rulemaking:
On November 3, 2022, the Internal Revenue Service issued Notice 2022-56 to request comments on the qualified commercial clean vehicles credit (45W credit) and the amendments to the alternative fuel vehicle refueling property credit (30C credit), with comments due December 3, 2022: Source
On January 16, 2024, the Internal Revenue Service issued Notice 2024-20 which contains interim guidance on eligible census tracts for the qualified alternative fuel vehicle refueling property credit and announced the intent to propose regulations for the credit: Source
TCS Notes:
Duplicative of other federal programs such as the Biofuel Infrastructure and Agriculture Product Market Expansion program (Higher Blend Infrastructure Incentive Program) within IRA.
Elective Payment and Transferability allowed in certain cases.
Other TCS Resources:
Biofuel Infrastructure Subsidies Fact Sheet