SB2940 - Electric Vehicles Summary

• Illinois sets goal to increase electric vehicle adoption to 1,000,000 by 2030 and establish itself as the best state for driving and manufacturing electric vehicles.

• Electric utilities serving over 500,000 customers must file Beneficial Electrification Plans by July 1, 2022, with programs starting no later than January 1, 2023, addressing charging infrastructure, rate structures, and equity investments.

• Plans must dedicate at least 40% of make-ready infrastructure investments to environmental justice and low-income communities, and at least 5% to electrifying school buses and public transit in those communities.

• Excludes electric mopeds and electric off-highway vehicles from the definition of "electric vehicle" (previously excluded motorcycles; now includes them in rebate eligibility).

• Electric vehicle rebate amounts increased: $4,000 from July 1, 2022 through June 30, 2026; $2,000 from July 1, 2026 through June 30, 2028; $1,500 starting July 1, 2028; and adds $1,500 rebate for electric motorcycles beginning July 1, 2022.