(ii) is located in the United States, and (iii) has an average hourly production wage rate for employees working in such facility which is not less than $35 per hour. (4) Inflation adjustment (A) In general In the case of any calendar year beginning after 2025, the dollar amounts in subparagraphs (F)(iii) and (G)(iii) of paragraph (3) shall be increased by an amount equal to— (i) such dollar amount, multiplied by (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting in subparagraph (A)(ii) thereof calendar year 2024 for calendar year 2016 . (B) Rounding If any amount as adjusted under subparagraph (A) is not a multiple of $1, such dollar amount shall be rounded to the next lowest multiple of $1. (5) Regulations and guidance (A) In general The Secretary shall, in consultation with the Secretary of Commerce and the Secretary of Labor, issue such regulations or other guidance as the Secretary determines necessary to carry out the purposes of this subsection, including regulations or other guidance which provides for requirements for recordkeeping or information reporting for purposes of administering the requirements of this subsection. (B) Deadline for proposed guidance Not later than December 31, 2024, the Secretary shall issue proposed guidance with respect to the requirements under this subsection. (f) Special rules (1) Basis reduction For purposes of this subtitle, the basis of any property for which a credit is allowable under subsection (a) shall be reduced by the amount of such credit so allowed (determined without regard to subsection (c)). (2) No double benefit The amount of any deduction or other credit allowable under this chapter for a vehicle for which a credit is allowable under subsection (a) shall be reduced by the amount of credit allowed under such subsection for such vehicle (determined without regard to subsection (c)). (3) Property used by tax-exempt entity In the case of a vehicle the use of which