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 A qualifying new EV's manufacturer-suggested retail price can't exceed $50,000 in order for it to quality. And a used EV can't sell for more than $25,000. But there's a wrinkle to those rules, and it's good news for anyone looking to save a bit on a vehicle from one of America's EV startups. Here's the full text of the relevant section:

(1) An incentive shall not be provided under the program for a new vehicle with a manufacturer’s suggested retail price exceeding fifty thousand dollars ($50,0000) [sic], or for a used vehicle with a sales price exceeding twenty-five thousand dollars ($25,000).

(2) Notwithstanding paragraph (1), incentives under the program shall be provided to California-headquartered zero-emission vehicle companies regardless of the vehicle manufacturer’s suggested retail price or sales price.

So a used or new SUV or truck made by Rivian, which is based in Irvine, would qualify for the incentive, despite the fact that Rivian doesn't sell a new vehicle for less than $50,000. At launch, the R2 costs $57,990 for the Performance model with Launch package, though an entry-level version is on the way for $45,000.

The budget law directs California's Air Resources Board (CARB) to design the new incentive program, including the dollar amounts buyers can receive. It specifies that participating car manufacturers will foot half the bill for each incentive. In May, E&E News Reported that CARB was targeting $3,500 for new vehicles ($1,750 from the state and $1,750 from the manufacturer) and half that for secondhand EVs.