HB3597 Summary

• Establishes an electric vehicle voucher program under the Environmental Protection Act offering up to $40,000 per purchased or leased electric vehicle, subject to appropriation.

• Vouchers available only for medium-duty and heavy-duty vehicles registered in Illinois or under the International Registration Plan, with applicants having a primary residence in Illinois.

• Federal tax credits under Section 45W of the Internal Revenue Code must be subtracted from the voucher amount, and total incentives cannot exceed the price difference between the electric vehicle and a comparable internal combustion vehicle.

• Recipients must retain title or use of the vehicle for at least 36 consecutive months; resale or sublease within 36 months is prohibited, and leased vehicles must have lease terms of at least 36 months.

• Applicants must submit proof of purchase, lease, or binding contract after receiving preliminary approval, with preliminary approval renewable at 3-month intervals for up to 18 months.