SF219

The legislative bill SF No 219 is focused on modifying the electric-assisted bicycle rebate program in Minnesota. Here are the key points of the bill in simpler terms:

1. Rebate Application Process:

   • Individuals who want to get a rebate for purchasing an electric-assisted bicycle must first apply for a rebate certificate before making the purchase.
   • They must include proof of their income on the application form.

2. Issuance of Rebate Certificates:

   • The bill details how the Department of Revenue will issue these certificates, specifying the certificate's issuance date, applicable percentage of the rebate, and the maximum rebate amount.
   • Married individuals filing jointly can apply separately and each can receive their own certificate.

3. Timing and Allocation:

   • The Department of Revenue will open applications on specific dates and allocate rebates on a first-come, first-served lottery basis starting July 1, 2024.
   • A portion of the rebate certificates (40%) will be reserved for married individuals filing jointly who earn less than $78,000, or for single filers earning less than $41,000.
   • If reserved rebates are not fully used by September 30, they become available to other applicants from October 1.

4. Funding Caps and Rollovers:

   • The bill limits rebate certificates to a total of $2,000,000 each for the years 2024 and 2025.
   • Unused allocated funds from one year can be rolled over to the next year’s allocation.

5. Expiration of Certificates:

   • Rebate certificates will expire two months after issuance if not used. The unclaimed amount will then return to the pool for future allocation.

This bill is designed to promote the use of electric-assisted bicycles through financial incentives, specifying an organized system of application, qualification, and fund management.