Treasury releases white paper on critical mineral and battery component requirements for clean vehicle tax credits
Treasury announced various sources of additional information on clean vehicle provisions
Treasury announced various sources of additional information on clean vehicle provisions
The U.S. Treasury Department today issued a release announcing various sources of additional information on the clean vehicle provisions of Pub. L. No. 117-169 (commonly called the “Inflation Reduction Act of 2022” (IRA)), including a white paper [PDF 432 KB] on the anticipated direction of forthcoming proposed guidance on the critical minerals and battery components requirements that vehicles must meet to qualify for tax incentives in the IRA and the process for determining whether vehicles qualify under these requirements.
The white paper is not proposed guidance, but it will help manufacturers prepare to be able to identify vehicles eligible for the tax credit when the new requirements go into effect after the Treasury Department and IRS issue a notice of proposed rulemaking in March 2023. By statute, the critical mineral and battery component requirements take effect only after Treasury issues that proposed guidance.
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