WASHINGTON – The Department of Treasury and Internal Revenue Service today corrected Appendix A and Appendix B of Notice 2024-20 to add additional eligible census tracts for the qualified alternative fuel vehicle refueling property credit.
This correction reflects additional census tracts that were determined to meet the description of eligible census tracts in Notice 2024-20.
Appendix A was corrected to include:
02158000100 Alaska Kusilvak/Wade Hampton
04019002704 Arizona Pima
04019005200 Arizona Pima
36053030101 New York Madison
36053030102 New York Madison
36053030200 New York Madison
46102940500 South Dakota Oglala Lakota County/Shannon
46102940800 South Dakota Oglala Lakota County/Shannon
46102940900 South Dakota Oglala Lakota County/Shannon
Appendix B was corrected to include:
17095000600 Illinois Knox County
19145490300 Iowa Page County
20181453700 Kansas Sherman County
The Inflation Reduction Act amended the credit for qualified alternative fuel vehicle refueling property. The changes apply to qualified alternative fuel vehicle refueling property placed in service after Dec. 31, 2022, and before Jan. 1, 2033.
The credit amount for property not subject to depreciation is 30% of the cost of the qualified property placed in service during the tax year. The credit amount for depreciable property is 6% of the cost of the qualified property placed in service during the tax year but may be increased to 30% of the cost of the qualified property if the prevailing wage and apprenticeship requirements are met. The credit is limited to $100,000 for depreciable property and $1,000 for non-depreciable property.
Property must be placed in service in an eligible census tract to qualify for the credit. An eligible census tract is any population census tract that is a low-income community or any population census tract that is not an urban area.
More information about the alternative fuel vehicle refueling property credit may be found in the frequently asked questions.
