Treasury, IRS issue corrected census tracts for the Qualified Alternative Fuel Vehicle Refueling Property Credit

IR-2024-107, April 12, 2024

WASHINGTON — The Department of Treasury and Internal Revenue Service today corrected Appendix APDF and Appendix BPDF of Notice 2024-20PDF to add additional eligible census tracts for the qualified alternative fuel vehicle refueling property credit.

This correction reflects additional census tracts that were determined to meet the description of eligible census tracts in Notice 2024-20.

Appendix A was corrected to include:

Appendix B was corrected to include:

The Inflation Reduction Act amended the credit for qualified alternative fuel vehicle refueling property. The changes apply to qualified alternative fuel vehicle refueling property placed in service after Dec. 31, 2022, and before Jan. 1, 2033.

The credit amount for property not subject to depreciation is 30% of the cost of the qualified property placed in service during the tax year. The credit amount for depreciable property is 6% of the cost of the qualified property placed in service during the tax year but may be increased to 30% of the cost of the qualified property if the prevailing wage and apprenticeship requirements are met. The credit is limited to $100,000 for depreciable property and $1,000 for non-depreciable property.

Property must be placed in service in an eligible census tract to qualify for the credit. An eligible census tract is any population census tract that is a low-income community or any population census tract that is not an urban area.

More information about the alternative fuel vehicle refueling property credit may be found in the frequently asked questions.