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California Tax Credit Increase from July 2020-December 2030

Lmirafuente

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https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB1046

I thought I would share the link above as I believe after reading this, California will raise the State Tax Credit for EVs up to $7,500 until they hit the goal of 5M vehicles sold in California or by Dec 2030 whichever one comes first. The tax credit appears to be available after July 2020, well in time for buying the Rivian's!

So as long as the Fed Tax credit stays in tact, for Californians, we may see a total of $15,000 tax credit combining Fed and State---whoo hoo!
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Lmirafuente

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Lmirafuente

Lmirafuente

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Quick update on this bill...it has been put on a suspense file in the Senate Appropriates committee, which means this is on hold until they figure a way to pay out the rebates...so hang tight. There is a committee meeting on this bill on 8/30/2019. More to come...
 
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Lmirafuente

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Another quick update on this bill...it appears the modification is "held under submission". When I went to look at what that means withing the CA Legislature:

HELD UNDER SUBMISSION—An action taken by a committee when a bill is heard in committee and there is an indication that the author and the committee members want to work on or discuss the bill further, but there is no motion for the bill to progress out of committee. This does not preclude the bill from being set for another hearing
So, I guess it is a wait and see for now. I will periodically check on this, but for now our CA Tax Credit for Rivian I think is still at $2,500 is my buess.

Here are the links supporting this post:
I guest a $10,000 tax credit is good...hope it jumps to $15,000 (CA Tax Credit plus Fed Tax Credit) by the time we buy our Rivian's!!!

Stay tuned...
 

Skigh

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Well you're still way ahead of us in Canada. We don't get any incentives for a vehicle over that value... because why would they encourage you to buy an EV????
 

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Lmirafuente

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If you have solar panels on your house and you are now considering storing the excess energy you may be producing during the day from your solar panels, I thought I would also share this link https://news.energysage.com/california-energy-storage-incentives-sgip-explained/ to help you decide.

SGIP, Self-Generating Incentive Program provides a rebate that could almost pay for the battery itselft.

As you read the link provided this California tax incentive is in addition to the tax credits you already received from your solar panels.

I am certainly considering it and I thought worthwhile sharing as many don't know about it.

Have a great day!
 

Hexijen

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looks like it is still under submission. I wonder if the pandemic stalled it out.
 

St Bernard

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With Biden as President we might see more States expand Tax Credits and give much more help to Electric Car Manufactures. Biden’s previous positive comments about Electric Cars, such as more money to build Charging Stations, will be good for everyone.
 

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1) The California incentive is (and always has been) a rebate and not a tax credit. The amount of the rebate is income dependent, but not related to taxes in any way.
2) The wording has always allowed for a rebate of up to $7,500. The Air resources Board sets the actual rebate amounts. The program is funding constrained, and the rebate amounts have continued to drop as sales have increased. They also have gradually imposed lifetime restrictions on the number of rebates an individual can receive and it is now down to a single rebate.
 
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nfrank

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I searched google and found someone saying that California won't give a rebate on EVs over $60k. I then looked at this list of eligible vehicles. Obviously Rivian isn't on there yet, but neither is a Model S/X or Porsche Taycan (each with starting prices over $60k). I DON'T think we're getting rebates on our Rivian!

The only path to getting at California tax credit would be if by the time of launch Rivian states the starting price of the R1T with 105kWh battery to be $59,999. Then maybe it'll make the list. They could pull at Tesla move and never actually build that version of the R1T for all I care.
 

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I searched google and found someone saying that California won't give a rebate on EVs over $60k. I then looked at this list of eligible vehicles. Obviously Rivian isn't on there yet, but neither is a Model S/X or Porsche Taycan (each with starting prices over $60k). I DON'T think we're getting rebates on our Rivian!

The only path to getting at California tax credit would be if by the time of launch Rivian states the starting price of the R1T with 105kWh battery to be $59,999. Then maybe it'll make the list. They could pull at Tesla move and never actually build that version of the R1T for all I care.
CA updates that list every six months, so maybe you'll get a late Christmas present.
 

nfrank

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Regardless of the Rivian's being on the list or not today, I don't think it'll ever make the list because of the over $60k starting price.
 

thrill

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Regardless of the Rivian's being on the list or not today, I don't think it'll ever make the list because of the over $60k starting price.
That number is rather arbitrary, so who knows. With the growing push for only new EVs within a decade incentives will make that transition more palatable for all involved.
 

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Somebody share this fact with Rivian and "strongly suggest" that great idea about making the most entry-level R1T at $59,999. (sorry R1S guys!)
 

nfrank

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Somebody share this fact with Rivian and "strongly suggest" that great idea about making the most entry-level R1T at $59,999. (sorry R1S guys!)
I chatted with Bryan in the support area of the website about it. He asked for my phone number for a call back. I think they're taking it seriously. If I actually get someone calling me back I'll mention it. I I think all we need is RJ selling one vehicle with steel wheels and a short range battery pack to his mom for $59k and we can all get a discount on his trucks.
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