What is the latest US e-bike bill of 2023?

If you’re an e-bike fanatic, then you’re probably familiar with the Electric Bike Act of 2023. If not, then we’ll explain it in general terms for you with this article. For now, the latest bill is the ‘Kickstart for Environment Act’, which creates a tax credit that provides 30% insurance on every e-bike purchase.
If you have recently purchased an e-bike worth $4,000 or less, then you may be eligible for a $1,500 e-bike rebate or a higher 30% discount, whichever is cheaper. Similarly, if two members of your family both purchase e-bikes then you will qualify for a joint rebate and also receive a credit of $900 each. However, the prerequisite for some of this is that you qualify for this credit up to once in three years if your annual income is $75,000 or less and your joint household income is $150,000.

What types of e-bikes qualify for tax credits?

At this point, you may be wondering what types of e-bikes qualify for e-bike tax credits in the first place. In this article we will discuss these and help you to find out more.
In order for an e-bike to qualify for tax credits, the e-bike also needs to be class 1, 2 or 3 and should be equipped with pedals that help propel it. Finally, the e-bike also needs to have the capacity to hold a person.
Needless to say, you need to be a US taxpayer in order for you to qualify for the program. In addition, your e-bike needs to be a new purchase; leased or used e-bikes do not qualify for the program.

Who is eligible for the e-bike tax credit scheme?

I’m sure you’re now wondering what types of e-bikes are eligible for the latest tax credit e-bike scheme introduced by Biden. But who is eligible for it? Is it people from certain income brackets who are eligible for this scheme?
Firstly, as you already know, if you get an e-bike for less than $4,000, you will be eligible for a 30% tax rebate. You also need to have an annual income of less than $75,000 if you are filing individually, or no more than $150,000 if you are filing jointly. In both cases above, you are eligible for a tax credit of $900 per e-bike.
Over time, the credit decreases gradually for higher income earners. It is therefore a good opportunity to bring in people on lower incomes who have been denied a number of green benefits at one time in the past. Although the original bill proposed a $9,000 rebate, it wasn’t a pretty bad rebate, which is why the bill was eventually passed. The bill also came with certain pre-tax benefits. For example, the pre-tax rebate for electric bicycles, which used to be $20, has now been increased to a whopping $81 per month. Most of these pre-tax rebates are intended to address the high cost of owning an e-bike. For example, if you are a member of a trusted e-bike sharing facility, then you can easily use these rebates, which is a great option for you.

How much tax credit can I get from the e-bike tax credit?

With the above description, perhaps you are wondering how much tax credit you can qualify for on the e-bike tax credit 2023, and here we give you a quick refresher on the trick. If the aforementioned e-bike is under $4,000 or less, you will receive a credit of $1,500, or 30% of the cost of the e-bike. If your annual salary is $75,000 or less, you will also qualify for an additional benefit of up to $900 in tax credits per person for the e-bike.
To top it all off, the new e-bike tax credit also opens up some pre-tax benefits for each e-bike up to $81. If your annual income with your joint filer is under $15w, then you will also qualify for a joint tax refund. Overall, the scheme is great for new e-bike owners and if you don’t own an e-bike and are ready to buy one, then you can absolutely use the current tax credits.

Can I use my e-bike tax credit to purchase a conversion kit?

Yes, of course, under the new e-bike tax credit bill you can use the e-bike tax credit to purchase a new conversion kit. For example: if you are in this specific area of Vermont, you are eligible for a $200 discount on a new e-bike or any e-bike conversion kit. Or, if you are from Northeast or Central Vermont, then your rebate on an e-bike conversion kit will be $100.
In Healdsburg, there is a $50 rebate per e-bike conversion kit and in Contra Costa County, there is a $150 rebate per tax-paying adult and a $200 rebate on conversion kits if you belong to one of the following counties.
– Mesa
– Gunnison
– Eagle County
– Pitkin
– Glenwood Springs
– Garfield
– Eagle County
So, to the question of whether you can use your e-bike tax relief to buy an e-bike conversion kit, the answer is yes. However you need to be aware that this falls under some specific areas and that there are specific areas where you are eligible for the rebate. I think it’s easy to see from the above description that the amount of the tax rebate depends almost entirely on where you are. On top of that, you need to buy from a shop that participates in the scheme to be eligible.

And finally

Now you know who qualifies for the new e-bike tax credit Worry no more, if you want a brand new electric bike then you can go and get it now! All you need to do is make sure you can meet the above criteria so you can qualify for the credit. Now, you’ll find a wide range of e-bikes that fit into this category, so your options are practically limitless, just explore e-bikes under $4,000 and with a capacity of less than 750w to qualify for the tax credit.
With the right electric bike, your holiday possibilities are endless and you can explore country lanes and all those hunting areas that are not the most accessible. You can hardly find the type of terrain that your e-bike can’t support, all thanks to the advent of the e-bike, just like the weather conventional e-bike, you can do so much more and explore more. Best of all, you get tax relief and colleagues can pave the way for sustainable living.