Virginia House Bill 717
Virginia Delegate David Reid of Loudoun County is proposing a rebate for Virginians who buy or lease an electric vehicle. The legislation will be formally introduced when the Virginia General Assembly convenes on Wednesday, January 8 in Richmond.
Used Vehicles Would Qualify
HB 717 proposes that an individual who buys or leases a new or used electric vehicle from a dealer in Virginia and registers the vehicle in Virginia would be eligible for a rebate. The MSRP for new vehicles and the Kelly Blue Book value for used, must not exceed $50,000 in order to qualify for a rebate.
Electric vehicles that get 200 or more miles of range would qualify for a $2,000 rebate for new and $1,000 for a used vehicle. A vehicle that gets between 120 and 200 miles qualifies for $1,500 for new and $750 for used. Vehicles that get less than 120 miles per charge qualify for $400 for a new vehicle and $200 for used.
Enhanced Rebates for Lower Income Households
Individuals that fall under certain household income guidelines would qualify for an enhanced rebate of an additional 50%. Rebates would be funded for a maximum of $1.5 million per fiscal year and be issued on a first-come, first-served basis. The rebate program would not apply to fleet purchases. The EV rebate program would expire on July 1, 2027.
C. From such funds as may be appropriated, the Commissioner shall issue a rebate pursuant to the provisions of this section as follows:
For a qualified vehicle with a fuel cell battery, $3,000 for a new vehicle and $1,500 for a used vehicle;
For a qualified vehicle with an electric battery that obtains 200 miles or more per charge, $2,000 for a new vehicle and $1,000 for a used vehicle;
For a qualified vehicle with an electric battery that obtains at least 120 miles but less than 200 miles per charge, $1,500 for a new vehicle and $750 for a used vehicle;
For a qualified vehicle with an electric battery that obtains less than 120 miles per charge, $400 for a new vehicle and $200 for a used vehicle; and
For individuals whose household income does not exceed 300 percent of the current federal poverty guidelines, the rebates set forth in subdivisions 1 through 4 shall be increased by 50 percent. In order to qualify for an enhanced rebate, the individual shall provide documentation of household income to the Department upon request.Excerpt from Virginia HB 717 as introduced.
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