flgatorfan
Member
Ok, so I spent some time looking for the details and this is the source all articles are referring too. The US Department of the Treasury said “Treasury will issue a notice of proposed rulemaking (NPRM) in March with proposed guidance on the critical minerals and battery components requirements. By statute, the critical mineral and battery component requirements take effect only after Treasury issues that proposed rule.”
So the Dept of the Treasury will issue a notice in March. They didn’t give a date of when it will happen in March as of yet. The notice will include details of guidance on which battery components qualify giving the full $7,500 credit. And once that notice is issued the updated rule will take over. Until then all purchases of qualifying teslas will be $7,500 tax credit.
Source of the quote https://home.treasury.gov/news/press-releases/jy1173
Kinda confusingly worded. A NPRM is a notice issued to solicit public comments and such which is then followed by the actual rule. Unclear here whether they're saying the requirements take effect upon issuance of the NPRM or of the actual rule. I would think the latter but who knows.