Toyota's real issue here, is the tax credit expires 12/31/2011, and, they are not scheduled to introduce their Plug in Prius until sometime in calendar year 2012 (not model year 2012), so unless they step up the introduction date, there may be no rebate at all for the Plug in Prius. All the more reason I am still going with the Leaf
http://www.afdc.energy.gov/afdc/laws/law/US/409
"Qualified Plug-In Electric Drive Motor Vehicle Tax Credit
A tax credit is available for the purchase of a new qualified plug-in electric drive motor vehicle that draws propulsion using a traction battery that has at least four kilowatt hours of capacity, uses an external source of energy to recharge the battery, has a gross vehicle weight rating of up to 14,000 pounds, and meets specified emission standards. The minimum credit amount is $2,500, and the credit may be up to $7,500, based on each vehicle's traction battery capacity and the gross vehicle weight rating. The credit will begin to be phased out for each manufacturer in the second quarter following the calendar quarter in which a minimum of 200,000 qualified plug-in electric drive vehicles have been sold by that manufacturer for use in the U.S.
This tax credit applies to vehicles acquired after December 31, 2009. Through December 31, 2011, qualified plug-in electric vehicle conversions are also eligible for a tax credit for 10% of the conversion cost, not to exceed $4,000. Additionally, a tax credit of up to 10% of the cost of qualified low-speed electric vehicles, electric motorcycles, and three-wheeled electric vehicles, not to exceed $2,500, is available through December 31, 2011. (Reference Public Law 111-5, Sections 1141-1144, and 26 U.S. Code 30D)
Point of Contact
U.S. Internal Revenue Service
Phone: (800) 829-1040
http://www.irs.gov/"
