A tax credit equal to 30% of the cost of qualified property is allowed for placing in service property used to store or dispense an alternative fuel into the fuel tank of a motor vehicle propelled by the fuel, or used to recharge an electric vehicle.The credit is limited to $30,000 for business use property or $1,000 for personal use property (such as an electric charging station installed in the taxpayer’s garage to charge the batteries of a personal use electric car) Thecredit was set to expire for property placed in service after 2021. The new law extends the credit through the end of 2032, and increases the credit limitation for business use property to $100,000The new law also allows the credit for bidirectional charging equipment, such as an electric vehicle charging station that converts the DC electricity stored in the car batteries back to AC electricity to power the house in case of a power outage.