WASHINGTON (JANUARY 19, 2024) — Today, the Internal Revenue Service (IRS) and the U.S. Department of the Treasury released guidance covering Section 30C of the Inflation Reduction Act (IRA) of 2022.
Section 30C, also referred to as the Alternative Fuel Vehicle Refueling Property, amended an existing tax credit to allow for up to $100,000 per single unit of charging infrastructure that can be used for electric vehicles and electric school buses in qualifying low-income and non-urban areas. Today’s new guidance clarifies when a charging infrastructure project is considered ‘completed,’ as well as which census tracts are eligible to leverage it, allowing school districts to determine their eligibility.
Following is a statement from Sue Gander, Director of WRI’s Electric School Bus Initiative:
“This tax credit is an important tool to help school districts which are most in need of clean-running, tailpipe-emission-free electric school buses invest in the charging infrastructure that is essential to transforming their fleets. It's also uncapped and available to anyone who meets the eligibility requirements. We commend the IRS, Treasury Department and the White House for providing additional guidance that will help deliver the health, environmental and economic benefits of electric school buses to communities across the country.”