Following the release of updated U.S. federal electric vehicle (EV) tax credits for a few of the country’s largest auto manufacturers, one U.S. state has decided to join a parade of other states, offering their own state tax credit for EV purchases.
Illinois is set to finally offer residents an EV rebate, following a sweeping new bill subsidizing nuclear power plants and offering a wide range of clean energy goals, according to the Chicago Tribune (via Reddit).
Along with preserving some of the area’s nuclear power plants for clean energy generation, the bill also offers rebates on used and new EVs with no MSRP cap, and will offering rolling credits through 2030 – starting with $4,000 USD until 2026, then switching to $2,000 USD until 2028, before ending with $1,000 until 2030.
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The rebate is set to go into effect on July 1, 2022, and will be available for Illinois residents in counties that are paying into the rebate fund – including Cook, Dupage, Kane, Lake, McHenry, Will, aux Sable, as well as Goose Lake Townships in Grundy and the Oswego Township in Kendall County.
Additionally, buyers beyond these counties can gain access to the rebates if they individually pay into the fund.
Other stipulations for the rebate require the user to own the EV for 12 months, to register, and to live within participating counties for the year.
In addition, buyers must apply for the credit within 90 days of purchasing the vehicle, and rebates are restricted to buyers whose average income doesn’t exceed 80 percent of the area’s median income – also taking household size into account.
Contributing Writer at TeslaNorth.com from California’s southeast Bay Area. Covers electric vehicles, space exploration, and all things tech. Loves a good cup of coffee, live music and puppies. Buying a Tesla? Click here to get 1,000 free Supercharging miles.