Application for e-bike rebate worth up to $1,500 opens to Minnesotans next week
MINNEAPOLIS — Minnesotans will soon be able to apply for a rebate that could help save hundreds on the purchase of an electric-assisted bicycle.
The state says the rebate is worth up to 50-75% off the cost of an e-bike and qualifying accessories at an approved retailer. The maximum discount is $1,500.
The online application opens at 11 a.m. next Wednesday, June 5. Applications will be reviewed on a first come first serve basis. The system will automatically close once it reaches 10,000 applications.
To apply for the rebate, the individual must be at least 15, be a Minnesota resident in the current year and previous year and not have been claimed as a dependent in the previous tax year.
The first round of rebates will be distributed on July 1. An estimated 1,300 certificates are expected to be issued, according to the Minnesota Department of Revenue.
About 5,000 applicants will receive an application denial email while the remaining applicants will be waitlisted for a second round of rebates in October.
Forty percent of rebate certificates will go to applicants with incomes below a certain level. Higher earners can still qualify, but the value of their rebate may be smaller. There is a scale that decreases how much of the bike cost will be covered depending on how much money a person makes.
Any leftover money for this year's program after Oct. 1 will be used to issue more rebates to those who were waitlisted, according to the Minnesota Department of Revenue.
State law allocates $2 million for the administration of the program and the rebates themselves.
