HB3447 - Electric Bicycle Rebate

• Defines "electric bicycle" as a bicycle equipped with an electric motor that may assist with or replace pedaling, and adds this term to the Electric Vehicle Rebate Act.

• Establishes a rebate program beginning July 1, 2024, providing $750 for bicycles costing $1,750 or less, $500 for bicycles $1,750-$4,000, and $250 for bicycles $4,000-$5,000.

• Creates an enhanced rebate schedule for low-income individuals meeting criteria including Food Assistance for Women, Infants, and Children, Supplemental Nutrition Assistance Program, Supplemental Low-Income Energy Assistance Program eligibility, or household income not exceeding 300% of federal poverty guidelines, providing up to $2,000 maximum rebate.

• Prioritizes purchasers in nonattainment areas (areas designated by EPA as not meeting national ambient air quality standards) for the rebate program.

• Requires point-of-sale rebate availability for low and mid-income communities, with businesses in nonattainment areas registering with the Department of Revenue to directly receive rebates while collecting specified bicycle and purchaser information.