(a) Each natural person, business, or nonprofit that purchases a qualified plug-in electric drive motor vehicle shall be eligible for one (1) rebate that shall be calculated as ten percent (10%) of the total base price of the qualified plug-in electric drive motor vehicle. Said rebate shall not exceed Three Thousand Dollars ($3,000) per qualified plug-in electric drive motor vehicle.

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COL 6/21/2023

16 Guam Code Ann. VEHICLES
CH. 3 GENERAL PROVISIONS

(b) Each natural person shall only be eligible for one (1) rebate for said natural person’s lifetime. Each business or nonprofit shall only be eligible for up to three (3) rebates, cumulatively, for said business’ or nonprofit’s lifetime.

(c) The terms the purchaser must meet include, but are not limited to, proof of purchase of the new qualified plug-in electric drive motor vehicle and proof of insurance for said vehicle.

(d) The purchaser shall agree to maintain ownership of the qualified plug-in electric drive motor vehicle for a period of not less than thirty-six (36) months, and shall complete and submit the necessary forms as prescribed by the GEO to claim a rebate pursuant to the Program.

(e) If the purchaser transfers ownership of the qualified plug-in electric drive motor vehicle for which a rebate was granted within the thirty-six (36) month period, the purchaser shall repay a prorated amount of the rebate granted to be determined by the GEO in the formulation of its promulgated rules and regulations.

(f) The rebate offered in this Section shall be in addition to any federal tax credit applicable to the purchase of a qualified plug-in electric drive motor vehicle.