SPRINGFIELD, Ill. (WTVO) — The State of Illinois has announced a third round of $4,000 rebates for the purchase of an electric vehicle.

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.

The third round of rebates opens November 1st, 2023 and runs until January 31st, 2024, or until funding runs out. Applications will become available on October 18th, 2023.

“Here in Illinois, we are leading the clean energy revolution—providing competitive incentives for companies and consumers alike,” said Governor JB Pritzker. “Ever since I signed the landmark Climate and Equitable Jobs Act, we’ve distributed millions of dollars in rebates for residents who buy all-electric vehicles. Today, I couldn’t be happier to announce that the next round of the Illinois EV Rebate Program will open November 1st. I encourage all Illinoisans to take advantage of this nation-leading opportunity—helping us reach our ambitious goal of 1 million registered EVs on the road by 2030.”

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.