To increase the allowable credit for fuel use under the alternatively fueled vehicle purchase requirement.

1. Rewrites page 420, lines 5–16

   ReplacesPrinted page

   Removes page 420, lines 5–16 of the printed bill. See that page

   Inserted: SEC. 702. FUEL USE CREDITS.

   Inserted: (a) In General.--Section 312 of the Energy Policy Act of 1992 (42 U.S.C. 13220) is amended to read as follows:

   Inserted: "SEC. 312. FUEL USE CREDITS.

   Inserted: "(a) Definitions.--In this section:

   Inserted: "(1) Biodiesel.--The term 'biodiesel' means a diesel fuel substitute produced from nonpetroleum renewable resources that meets the registration requirements for fuels and fuel additives established by the Environmental Protection Agency under section 211 of the Clean Air Act (42 U.S.C. 7545).

   Inserted: "(2) Qualifying volume.--The term 'qualifying volume' means--

   Inserted: "(A) in the case of biodiesel, when used as a component of fuel containing at least 20 percent biodiesel by volume--

   Inserted: "(i) 450 gallons; or

   Inserted: "(ii) if the Secretary determines by rule that the average annual alternative fuel use in light duty vehicles by fleets and covered persons exceeds 450 gallons or gallon equivalents, the amount of the average annual alternative fuel use; and

   Inserted: "(B) in the case of an alternative fuel, the amount of the fuel determined by the Secretary to have an equivalent energy content to the amount of biodiesel defined as a qualifying volume under subparagraph (A).

   Inserted: "(b) Allocation.--

   Inserted: "(1) In general.--The Secretary shall allocate 1 credit under this section to a fleet or covered person for each qualifying volume of alternative fuel or biodiesel purchased for use in a vehicle operated by the fleet.

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   Inserted: "(2) Limitation.--The Secretary may not allocate a credit under this section for the purchase of an alternative fuel or biodiesel that is required by Federal or State law.

   Inserted: "(3) Documentation.--A fleet or covered person seeking a credit under paragraph (1) shall provide written documentation to the Secretary supporting the allocation of the credit to the fleet or covered person.

   Inserted: "(c) Use.--At the request of a fleet or covered person allocated a credit under subsection (b), the Secretary shall, for the year in which the purchase of a qualifying volume is made, consider the purchase to be the acquisition of 1 alternative fueled vehicle that the fleet or covered person is required to acquire under this title, title IV, or title V.

   Inserted: "(d) Treatment.--A credit provided to a fleet or covered person under this section shall be considered to be a credit under section 508.

   Inserted: "(e) Issuance of Rule.--Not later than 180 days after the date of enactment of the Energy Policy Act of 2005, the Secretary shall issue a rule establishing procedures for the implementation of this section.".

   Inserted: (b) Table of Contents Amendment.--The table of contents of the Energy Policy Act of 1992 is amended by striking the item relating to section 312 and inserting the following:

   Inserted: "Sec. 312. Fuel use credits.".

   Original wording

   On page 420, strike lines 5 through 16 and insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed