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136 STAT. 1957 PUBLIC LAW 117–169—AUG. 16, 2022 ‘‘(i) in the case of a vehicle placed in service after the date on which the proposed guidance described in paragraph (3)(B) is issued by the Secretary and before January 1, 2024, 50 percent, ‘‘(ii) in the case of a vehicle placed in service during calendar year 2024 or 2025, 60 percent, ‘‘(iii) in the case of a vehicle placed in service during calendar year 2026, 70 percent, ‘‘(iv) in the case of a vehicle placed in service during calendar year 2027, 80 percent, ‘‘(v) in the case of a vehicle placed in service during calendar year 2028, 90 percent, ‘‘(vi) in the case of a vehicle placed in service after December 31, 2028, 100 percent. ‘‘(3) REGULATIONS AND GUIDANCE.— ‘‘(A) IN GENERAL.—The Secretary shall issue such regu- lations or other guidance as the Secretary determines nec- essary to carry out the purposes of this subsection, including regulations or other guidance which provides for requirements for recordkeeping or information reporting for purposes of administering the requirements of this sub- section. ‘‘(B) DEADLINE FOR PROPOSED GUIDANCE.—Not later than December 31, 2022, the Secretary shall issue proposed guidance with respect to the requirements under this sub- section.’’. (2) EXCLUDED ENTITIES.—Section 30D(d), as amended by the preceding provisions of this section, is amended by adding at the end the following: ‘‘(7) EXCLUDED ENTITIES.—For purposes of this section, the term ‘new clean vehicle’ shall not include— ‘‘(A) any vehicle placed in service after December 31, 2024, with respect to which any of the applicable critical minerals contained in the battery of such vehicle (as described in subsection (e)(1)(A)) were extracted, processed, or recycled by a foreign entity of concern (as defined in section 40207(a)(5) of the Infrastructure Investment and Jobs Act (42 U.S.C. 18741(a)(5))), or ‘‘(B) any vehicle placed in service after December 31, 2023, with respect to which any of the components con- tained in the battery of such vehicle (as described in sub- section (e)(2)(A)) were manufactured or assembled by a foreign entity of concern (as so defined).’’. (f) SPECIAL RULES.—Section 30D(f) is amended by adding at the end the following: ‘‘(8) ONE CREDIT PER VEHICLE.—In the case of any vehicle, the credit described in subsection (a) shall only be allowed once with respect to such vehicle, as determined based upon the vehicle identification number of such vehicle. ‘‘(9) VIN REQUIREMENT.—No credit shall be allowed under this section with respect to any vehicle unless the taxpayer includes the vehicle identification number of such vehicle on the return of tax for the taxable year. ‘‘(10) LIMITATION BASED ON MODIFIED ADJUSTED GROSS INCOME.— ‘‘(A) IN GENERAL.—No credit shall be allowed under subsection (a) for any taxable year if— Effective dates. 26 USC 30D. Determination. VerDate Sep 11 2014 15:35 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00141 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw