Illinois electric vehicle rebate: Eligibility, application deadline and what else to know - NBC Chicago

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Illinois residents can receive a $4,000 rebate for purchasing an electric vehicle through a statewide taxpayer-funded program.

There are a few caveats, however.

Certain eligibility criteria must be met, and the window to submit an application is only open through the end of Jan. 2024. If you're set on purchasing an electric vehicle - or recently bought one - and are planning to apply, you'll want to do so sooner than later.

The Illinois Environmental Protection Agency, which oversees the state's Electric Vehicle Rebate Program, said it anticipates available funds will be depleted before the application window closes, citing substantial interest in the program. Applications for the most recent cycle opened on Nov. 1 and can be submitted through the deadline of Jan. 31, 2024.

While anyone interested is encourage to submit their application as soon as possible to increase their chances of receiving a rebate, applications from low-income individuals will be given priority, according to the agency's website.

Potential recipients must meet the following requirements:

• The purchaser must reside in Illinois at time of vehicle purchase and at the time the rebate is issued.
• The vehicle must be purchased from a dealer located in Illinois and 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 program in Illinois.
• Only individuals can receive a rebate and can only receive one rebate. Businesses, government units, organizations, and other entities that are not individuals will be denied a rebate. 
• 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.

A $4,000 rebate will be given to selected Illinois residents who have purchased a new or used all-electric vehicle from a licensed dealership in the state. Selected applicants who purchased an all-electric motorcycle will receive a $1,500 rebate.

The Illinois General Assembly appropriated $12 million dollars for the program during the current fiscal year, which runs through June 30. Applications can be submitted on the Illinois EPA website.

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