Electric Motorcycle Parity Act of 2023

“(h) Credit allowed for clean vehicles with fewer than 4 wheels

“(1) In general—In the case of a qualified clean vehicle with fewer than 4 wheels—

“(A) there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of the applicable amount with respect to each such qualified clean vehicle with fewer than 4 wheels placed in service by the taxpayer during the taxable year, and

“(B) the amount of the credit allowed under subparagraph (A) shall be treated as a credit allowed under subsection (a).

“(2) Applicable amount—For purposes of paragraph (1), the applicable amount is an amount equal to the sum of—

“(A) in the case of a vehicle with respect to which the requirement described in subsection (e)(1)(A) is satisfied, $3,750, plus

“(B) in the case of a vehicle with respect to which the requirement described in subsection (e)(2)(A) is satisfied, $3,750.

“(3) Qualified clean vehicle with fewer than 4 wheels—The term qualified clean vehicle with fewer than 4 wheels means any vehicle which—

“(A) has fewer than 4 wheels,

“(B) meets the requirements of—

“(i) subparagraphs (A), (B), (C), (E), (F), (G), and (H) of subsection (d)(1) (determined by substituting “2.5 kilowatt hours” for “7 kilowatt hours” in subparagraph (F)(i) of such subsection), or

“(ii) subparagraphs (A), (C), (D), and (E) of section 30B(b)(3) and subparagraphs (G) and (H) of subsection (d)(1),

“(C) is manufactured primarily for use on public streets, roads, and highways, and

“(D) is capable of achieving a speed of 45 miles per hour or greater.”