Vote Smart's Synopsis:

Vote to pass a bill that amends the Internal Revenue Code of 1986 to exclude vehicles the batteries of which contain materials sourced from prohibited foreign entities from the clean vehicle credit.

Highlights:

• Amends the Internal Revenue Code of 1986 to exclude vehicles the batteries of which contain materials sourced from prohibited foreign entities from the clean vehicle credit (Sec. 2).

• Defines “prohibited foreign entity” for this bill to mean (Sec. 2):

• Any foreign entity of concern as defined in section 40207(a)(5) of the In- frastructure Investment and Jobs Act;

• Any entity concerning the government of a covered nation that has the right or power (directly or indirectly) to appoint or approve the appointment of a covered officer; or

• Any entity 25 percent or more of the capital or profits interests of which are owned (directly or indirectly) in the aggregate by 1 or more of the following:

• A covered nation or an entity is described in clause (i) or (ii).

• A citizen, national, or resident of a covered nation;

• An entity organized under the laws of a covered nation.

• Defines “covered officer” for this bill to mean any member of (Sec. 2): 

• The board of directors, board of supervisors, or an equivalent governing body;

• The president, senior vice president, chief executive officer, chief operating officer, chief financial officer, or general counsel, or 

• Any individual who performs duties usually associated with a title listed in clause (i) or (ii).

• Defines “covered nation” for this bill to have the same meaning given in section 4872(d) of title 10, United States Code (Sec. 2).

• Specifies that the provisions of this bill shall apply to vehicles placed in service after the enactment date of this bill (Sec. 2).

Full Bill Text

Full Bill Text