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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Carroll Foy
Fund Electronic Vehicle Rebate Program

Item 109 #5s

Item 109 #5s

First Year - FY2025 Second Year - FY2026
Commerce and Trade
Department of Energy FY2025 $40,000,000 FY2026 $40,000,000 GF

Language
Page 107, line 36, strike "$4,766,189" and insert "$44,766,189".
Page 107, line 36, strike "$4,766,189" and insert "$44,766,189".

Page 108, after line 14, insert:

"E. Out of this appropriation, $40,000,000 the first year and $40,000,000 the second year from the general fund shall be provided to capitalize the Electric Vehicle Rebate Program Fund. The Rebate Program is established to provide rebates to qualifying Commonwealth residents who purchase a new or used electric vehicle with a base price of up to $55,000. The rebate would total $2,500 for qualified residents with household incomes greater than 300 percent of the Federal poverty guidelines, and the rebate would total $4,500 for qualified residents with household incomes equal to or less than 300 percent of the Federal poverty guidelines."



Explanation

(This amendment provides $40,000,000 each year from the general fund to capitalize the Electric Vehicle Rebate Program Fund established pursuant to Chapter 493 (2021 Special Session I). The Rebate Program is established to provide rebates to qualifying Commonwealth residents who purchase a new or used electric vehicle with a base price of up to $55,000. The rebate would total $2,500 for qualified residents with household incomes greater than 300 percent of the Federal poverty guidelines, and the rebate would total $4,500 for qualified residents with household incomes equal to or less than 300 percent of the Federal poverty guidelines.)