SPRINGFIELD, Ill. (WTVO) — Illinois is offering car buyers a $4,000 rebate off the purchase of an electric vehicle, starting November 1st.
The Illinois Electric Vehicle Rebate Program offers $4,000 off the price of a new EV, and $1,500 off the cost of an electric motorcycle, with money made available from the Illinois Climate and Equitable Jobs Act.
“Thanks to our nation-leading Climate and Equitable Jobs Act’s innovative rebate program, ownership of an electric vehicle has never been more accessible and attainable in Illinois,” said Illinois Gov. JB Pritzker. “The livelihood of our neighborhoods depends on access to affordable, clean energy technology—and Illinoisans now have the chance to help us combat the climate crisis and reach our ambitious goal of putting one million EVs on the road by 2030.”
The third round of rebates opened November 1st, 2023 and runs until January 31st, 2024, or until funding runs out.
Low-income residents are prioritized by the program, although the rebate is subject to funding availability.
To be eligible for a rebate, the vehicle must be exclusively powered and refueled by electricity, plugged in to charge, and licensed to drive on public roadways. Electric mopeds, electric off-highway vehicles, hybrid electric or extended-range electric vehicles that are also equipped with conventional fueled propulsion or auxiliary engines are not eligible under the program.
Eligibility requirements for an EV rebate in Illinois include, but are not limited to:
- The purchaser must reside in Illinois at the time of vehicle purchase and at the time the rebate is issued.
- The vehicle must be purchased from a dealer licensed by the Illinois Secretary of State.
- Rented or leased vehicles do not qualify for the rebate.
- The vehicle cannot have been the subject of a previous EV rebate under this new program in Illinois.
- The rebate amount cannot exceed the purchase price of the vehicle.
- The purchaser must retain ownership of the vehicle for a minimum of 12 consecutive months immediately after the vehicle purchase date.
- The purchaser must apply for the rebate within 90-days after the vehicle purchase date.
- Documentation requirements include a copy of purchase invoice, proof of purchase, vehicle registration, and IRS W-9 or W-8 forms.
A vehicle being purchased may not have previously been the subject of a rebate under the Electric Vehicle Rebate Program.
Funding for the rebate program comes from the latest Illinois budget, which includes $12 million for rebates, less than the nearly $20 million allocated in the last funding cycle.
In addition to the Illinois rebate, buyers can also benefit from federal government tax credits of up to $7,500 for the purchase of a new EV, or up to $4,000 for a used EV with a sticker price of $25,000 or less.