(WTVO) — Starting July 1, Illinois residents who purchase an electric vehicle could get $4,000 off the purchase price.
“With our nation-leading rebate program, it’s never been more affordable for Illinois residents to buy and drive an electric vehicle,” said Governor JB Pritzker. “My administration understands that the clean energy transition is only as effective as it is accessible. From these $4,000 rebates to our workforce development programs to help coal communities move into clean energy jobs, we are laser focused on making Illinois a leader in addressing climate change and ensuring no community is left behind.”
As of July 1, 2022, the EV Rebate Fund has a balance of $17,909,043.51. After the application period closes, rebates will be issued to eligible applicants based on funding availability.
Residents who by their electric vehicles on or before July 1 will be eligible for the $4,000 rebate through the “Electric Vehicle Rebate Act.” Any vehicles purchased before that date will not be applicable. Residents must provide proof of purchase that shows the vehicle was bought on or after July 1. If the vehicle was purchased before July 1 but possession will not be taken until after, it is not applicable.
It is worth noting that the rebate only applies to fully electric vehicles. Plug-in hybrids that take both gas and electricity are not included. Fully electric motorcycles are included as well as cars, though owners will only receive $1,500.
In addition to purchasing the vehicle on or after July 1, owners must prove that they are a resident of Illinois, not have received a rebate under the Act in the 10 years prior to applying, must purchase a vehicle that has not previously received a rebate under the Act, and apply within 90 days after the purchase date. Only then will they be able to be fully eligible for the rebate.
The Illinois EPA will prioritize the review of applications from low-income purchasers. Residents whose income does not exceed 80% of the State median income, or $55,349, are considered low income.
Electric vehicle owners will receive a check from the Illinois Comptroller for their rebate.
Illinois’ EV rebate is not a tax credit, though the federal government does offer a tax credit up to $7,500 for certain electric vehicles and plug-in hybrids.
Beginning Friday, July 1, Illinois EV owners can submit a rebate application through Illinois’ Electric Vehicle Rebate Program webpage.