; treatment of payments Rules similar to the rules of paragraphs (3), (4), and (5) of section 21(h) shall apply for purposes of this section. (h) Transfer of credit (1) In general Subject to such regulations or other guidance as the Secretary determines necessary or appropriate, if the taxpayer who acquires a qualified electric bicycle is an individual and elects the application of this subsection with respect to such qualified electric bicycle, the credit which would (but for this subsection) be allowed to such taxpayer with respect to such qualified electric bicycle shall be allowed to the eligible entity specified in such election (and not to such taxpayer). (2) Eligible entity For purposes of this paragraph, the term eligible entity means, with respect to the qualified electric bicycle for which the credit is allowed under subsection (a), the retailer which sold such qualified electric bicycle to the taxpayer and has— (A) subject to paragraph (4), registered with the Secretary for purposes of this paragraph, at such time, and in such form and manner, as the Secretary may prescribe, (B) prior to the election described in paragraph (1) and no later than at the time of such sale, disclosed to the taxpayer purchasing such qualified electric bicycle— (i) the retail price, (ii) the value of the credit allowed or other incentive available for the purchase of such qualified electric bicycle, (iii) all fees associated with the purchase of such qualified electric bicycle, and (iv) the amount provided by the retailer to such taxpayer as a condition of the election described in paragraph (1), (C) made payment to such taxpayer (whether in cash or in the form of a partial payment or down payment for the purchase of such qualified electric bicycle) in an amount equal to the credit otherwise allowable to such taxpayer, and (D) with respect to any incentive otherwise available for the purchase of a qualified electric bicycle for which a credit is allowed under this section, including any incentive in the form of a rebate or