No CRS summary available for this bill.
This section establishes a new general business credit under new IRC §48F for zero-emission electric lawn, garden, and landscape equipment (i.e., electrically powered equipment for lawn/garden/landscaping use, zero-emission generators and batteries to charge it, and retrofit property; excludes gas/diesel-powered or manual equipment) placed in service after December 31, 2024. The credit equals 40% of the basis of such equipment, limited to $25,000 per taxable year and $100,000 in any consecutive 10-year period; requires product identification numbers after 2025 (similar to IRC §25C(h)); denies double benefits except for bonus depreciation; exempts from recapture upon business dissolution or bankruptcy; and terminates for property placed in service in taxable years beginning more than five years after enactment. The section also (1) makes the credit eligible for elective payment (IRC §6417) and transfer (IRC §6418) and (2) includes it in the list of specified energy credits under IRC §§46 and 49(a)(1)(C).