New CA bill AB1184 being considered: Up to $10K rebate for EV purchases

[insaneoctane]

I've been reading about this new AB 1184 trying to understand it's potential impact to EV buyers. Here's a recent article:
California bill would boost electric car rebates by $3 billion, but where will the money come from?

Since we are the absolute BEST in the world of speculation here in the model 3 forum, I am wondering folks thoughts on how it impacts us future M3 buyers? Specifically, when do you speculate it would go into effect? According to the article "The bill has already passed the Assembly and two Senate committees. A full Senate vote could send the bill to Gov. Jerry Brown’s desk within weeks." Usually rebates are NOT retroactive... So it might impact whether a Californian waits for AWD, etc....

 

[four-walling]

According to a recent LA Times article on this subject, don't count on it.

 

[oktane]

I've been reading about this new AB 1184 trying to understand it's potential impact to EV buyers. Here's a recent article:
California bill would boost electric car rebates by $3 billion, but where will the money come from?

Since we are the absolute BEST in the world of speculation here in the model 3 forum, I am wondering folks thoughts on how it impacts us future M3 buyers? Specifically, when do you speculate it would go into effect? According to the article "The bill has already passed the Assembly and two Senate committees. A full Senate vote could send the bill to Gov. Jerry Brown’s desk within weeks." Usually rebates are NOT retroactive... So it might impact whether a Californian waits for AWD, etc....

It will come from Tesla owners.

 

[omgwtfbyobbq]

It'll probably come from the same place it's coming from currently, auction proceeds from CA's cap and trade program.

California Climate Investments

It's not guaranteed, since there's no guarantee on how much the auctions could bring in or how that money will be allocated, but odds are it'll continue like it has so far.

 

[AceSkywalker]

It'll probably come from the same place it's coming from currently, auction proceeds from CA's cap and trade program.

California Climate Investments

It's not guaranteed, since there's no guarantee on how much the auctions could bring in or how that money will be allocated, but odds are it'll continue like it has so far.

The cap and trade system has generated less money for the state than anticipated, which is troubling for incentives and the state's high speed rail program. Regardless, incentives are still being issued, and people are building the rail line as we speak, so take it as you will.

 

[McRat]

Aug 17 is the next hearing in the Senate.

 

[tracksyde]

It doesn't sound like a new incentive/program to me. It sounds like they just want to try and guarantee funding for the existing program over the next 7 years or so.

 

[omgwtfbyobbq]

The cap and trade system has generated less money for the state than anticipated, which is troubling for incentives and the state's high speed rail program. Regardless, incentives are still being issued, and people are building the rail line as we speak, so take it as you will.

California sees a rebound in cap-and-trade auction, bolstering key climate change program

 

[MrBigSmiles]

Should California spend $3 billion to help people buy electric cars? - bill goes to Gov. Brown for signature on Sept 15th!

 

[TEG]

See also:
California AB1184

 

[WileyTheMan]

I would be surprised if Jerry didn't sign it. It'd be huge for the EV consumer base in CA. I can see why this is called the "Tesla Bill".

 

[Troy916]

per the article, still waiting for the "full Legislature" to approve the bill before it even gets to the governor.

 

[SageBrush]

Am I reading the bill correctly ?
$10k, and up to another $7.5k if the federal credit goes away ?

I sure hope that EVs are not that far away from ICE price parity. And actually, that price gap does not include the ZEV subsidy which I think is somewhere around $5,000 these days.

 

[Troy916]

I did not see any specifics dollar amounts for the rebate. Though it did reference the net price for the compact EV being relative to the cost of the "most frequently sold compact car". Also note its gives until "September 1, 2018" to implement the change. Hopefully they fund the existing rebate till that time.

 

[smak]

I mean, if they gave you the difference between the base price of a Honda Civic and a Model 3, that would be a huge coup for Model 3 buyers.

I think we all realize that the equivalent ICE car to a Model isn't $19,000

Obviously there has to be some cutoff, they aren't going to do the same with the Model S

 

[tam-o-shanter]

Definitely sounds like a "Tesla bill". I'm excited since I'm in CA!

But I think CA sees it as a win-win in multiple ways - more EV's on road (thus less ICE's); and supporting still-building Tesla industry/employees in CA.

 

[kengchang]

This timeline might help with the AWD buyer in CA

 

[insaneoctane]

I wish I knew more....it sounds like they would make up for the disappearing Fed credit; information helps make decisions!

 

[ToddV]

The bill is in the Senate Appropriations committee in the suspense file. Bills go on suspense if they result in a net cost to the State. I think the threshold is $100k. This Friday is the deadline for bills to come out of suspense and get passed by Appropriations. The bill can only be voted on if the committee chair decides to pull it off suspense for a vote. After Appropriations it'll go to the Senate for a floor vote than back to the Assembly for concurrence with the amendments. It then will go to governor Brown for signature. There are only a few more weeks in this legislative session, so let's keep our fingers crossed.

 

[insaneoctane]

The bill is in the Senate Appropriations committee in the suspense file. Bills go on suspense if they result in a net cost to the State. I think the threshold is $100k. This Friday is the deadline for bills to come out of suspense and get passed by Appropriations. The bill can only be voted on if the committee chair decides to pull it off suspense for a vote. After Appropriations it'll go to the Senate for a floor vote than back to the Assembly for concurrence with the amendments. It then will go to governor Brown for signature. There are only a few more weeks in this legislative session, so let's keep our fingers crossed.

Just out of curiosity, how do know so much about this process!?