Illinois Introduces Electric Vehicle Rebate Program

The state of Illinois has introduced an electric vehicle rebate program, effective July 1, 2022. At this time, the program is limited to new and used all-electric vehicles (including motorcycles) purchased by residential consumers. It specifically excludes any purchases for commercial use, as well as rented or leased vehicles. While there is no limit on the number of qualifying vehicles for which a single consumer can apply for the rebate, the program’s funds are limited, so time is of the essence if you’re considering applying for the rebate. Applications must be submitted within 90 days of the purchase of the vehicle, and the vehicle must be retained for at least 12 months to qualify.

For full details on the program, including the amount of the rebate for specific types of vehicles, click on this link for the full article. Or, feel free to reach out to your Weiss & Company LLP representative directly.