S.Amdt. 928

1. Adds TITLE XVII--TAX INCENTIVES FOR ALTERNATIVE MOTOR VEHICLES AND FUELS at the end of the bill

   Adds a title

   In H.R. 6 · Placed on Calendar Senate

   Passed the House of Representatives April 21, 2005.

   Inserted: TITLE XVII--TAX INCENTIVES FOR ALTERNATIVE MOTOR VEHICLES AND FUELS

   Inserted: SEC. 1700. AMENDMENT OF 1986 CODE.

   Inserted: Except as otherwise expressly provided, whenever in this title an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

   Inserted: Subtitle A--Tax Incentives SEC. 1701. ALTERNATIVE MOTOR VEHICLE CREDIT.

   Inserted: (a) In General.--Subpart B of part IV of subchapter A of chapter 1 (relating to foreign tax credit, etc.) is amended by adding at the end the following:

   Inserted: "SEC. 30B. ALTERNATIVE MOTOR VEHICLE CREDIT.

   Inserted: "(a) Allowance of Credit.--There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of--

   Inserted: "(1) the new qualified fuel cell motor vehicle credit determined under subsection (b),

   Inserted: "(2) the new advanced lean burn technology motor vehicle credit determined under subsection (c),

   Inserted: "(3) the new qualified hybrid motor vehicle credit determined under subsection (d), and

   Inserted: "(4) the new qualified alternative fuel motor vehicle credit determined under subsection (e).

   Inserted: "(b) New Qualified Fuel Cell Motor Vehicle Credit.--

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   Inserted: "(1) In general.--For purposes of subsection (a), the new qualified fuel cell motor vehicle credit determined under this subsection with respect to a new qualified fuel cell motor vehicle placed in service by the taxpayer during the taxable year is--

   Inserted: "(A) $8,000 if such vehicle has a gross vehicle weight rating of not more than 8,500 pounds,

   Inserted: "(B) $10,000, if such vehicle has a gross vehicle weight rating of more than 8,500 pounds but not more than 14,000 pounds,

   Inserted: "(C) $20,000, if such vehicle has a gross vehicle weight rating of more than 14,000 pounds but not more than 26,000 pounds, and

   Inserted: "(D) $40,000, if such vehicle has a gross vehicle weight rating of more than 26,000 pounds.

   Inserted: "(2) Increase for fuel efficiency.--

   Inserted: "(A) In general.--The amount determined under paragraph (1)(A) with respect to a new qualified fuel cell motor vehicle which is a passenger automobile or light truck shall be increased by--

   Inserted: "(i) $1,000, if such vehicle achieves at least 150 percent but less than 175 percent of the 2002 model year city fuel economy,

   Inserted: "(ii) $1,500, if such vehicle achieves at least 175 percent but less than 200 percent of the 2002 model year city fuel economy,

   Inserted: "(iii) $2,000, if such vehicle achieves at least 200 percent but less than 225 percent of the 2002 model year city fuel economy,

   Inserted: "(iv) $2,500, if such vehicle achieves at least 225 percent but less than 250 percent of the 2002 model year city fuel economy,

   Inserted: "(v) $3,000, if such vehicle achieves at least 250 percent but less than 275 percent of the 2002 model year city fuel economy,

   Inserted: "(vi) $3,500, if such vehicle achieves at least 275 percent but less than 300 percent of the 2002 model year city fuel economy, and

   Inserted: "(vii) $4,000, if such vehicle achieves at least 300 percent of the 2002 model year city fuel economy.

   Inserted: "(B) 2002 model year city fuel economy.--For purposes of subparagraph (A), the 2002 model year city fuel economy with respect to a vehicle shall be determined in accordance with the following tables:

   Inserted: "(i) In the case of a passenger automobile:

   Inserted: "If vehicle inertia weight clThe 2002 model year city fuel economy is:

   Inserted: 1,500 or 1,750 lbs............................................45.2 mpg 2,000 lbs...............................................39.6 mpg ....

   Inserted: 2,250 lbs...............................................35.2 mpg ....

   Inserted: 2,500 lbs...............................................31.7 mpg ....

   Inserted: 2,750 lbs...............................................28.8 mpg ....

   Inserted: 3,000 lbs...............................................26.4 mpg ....

   Inserted: 3,500 lbs...............................................22.6 mpg ....

   Inserted: 4,000 lbs...............................................19.8 mpg ....

   Inserted: 4,500 lbs...............................................17.6 mpg ....

   Inserted: 5,000 lbs...............................................15.9 mpg ....

   Inserted: 5,500 lbs...............................................14.4 mpg ....

   Inserted: 6,000 lbs...............................................13.2 mpg ....

   Inserted: 6,500 lbs...............................................12.2 mpg ....

   Inserted: 7,000 to 8,500 lbs......................................11.3 mpg.....

   Inserted: "(ii) In the case of a light truck:

   Inserted: "If vehicle inertia weight clThe 2002 model year city fuel economy is:

   Inserted: 1,500 or 1,750 lbs............................................39.4 mpg 2,000 lbs...............................................35.2 mpg ....

   Inserted: 2,250 lbs...............................................31.8 mpg ....

   Inserted: 2,500 lbs...............................................29.0 mpg ....

   Inserted: 2,750 lbs...............................................26.8 mpg ....

   Inserted: 3,000 lbs...............................................24.9 mpg ....

   Inserted: 3,500 lbs...............................................21.8 mpg ....

   Inserted: 4,000 lbs...............................................19.4 mpg ....

   Inserted: 4,500 lbs...............................................17.6 mpg ....

   Inserted: 5,000 lbs...............................................16.1 mpg ....

   Inserted: 5,500 lbs...............................................14.8 mpg ....

   Inserted: 6,000 lbs...............................................13.7 mpg ....

   Inserted: 6,500 lbs...............................................12.8 mpg ....

   Inserted: 7,000 to 8,500 lbs......................................12.1 mpg.....

   Inserted: "(C) Vehicle inertia weight class.--For purposes of subparagraph (B), the term 'vehicle inertia weight class' has the same meaning as when defined in regulations prescribed by the Administrator of the Environmental Protection Agency for purposes of the administration of title II of the Clean Air Act (42 U.S.C. 7521 et seq.).

   Inserted: "(3) New qualified fuel cell motor vehicle.--For purposes of this subsection, the term 'new qualified fuel cell motor vehicle' means a motor vehicle--

   Inserted: "(A) which is propelled by power derived from 1 or more cells which convert chemical energy directly into electricity by combining oxygen with hydrogen fuel which is stored on board the vehicle in any form and may or may not require reformation prior to use,

   Inserted: "(B) which, in the case of a passenger automobile or light truck, has received on or after the date of the enactment of this section a certificate that such vehicle meets or exceeds the Bin 5 Tier II emission level established in regulations prescribed by the Administrator of the Environmental Protection Agency under section 202(i) of the Clean Air Act for that make and model year vehicle,

   Inserted: "(C) the original use of which commences with the taxpayer,

   Inserted: "(D) which is acquired for use or lease by the taxpayer and not for resale, and

   Inserted: "(E) which is made by a manufacturer.

   Inserted: "(c) New Advanced Lean Burn Technology Motor Vehicle Credit.--

   Inserted: "(1) In general.--For purposes of subsection (a), the new advanced lean burn technology motor vehicle credit determined under this subsection with respect to a new advanced lean burn technology motor vehicle placed in service by the taxpayer during the taxable year is the credit amount determined under paragraph (2).

   Inserted: "(2) Credit amount.--

   Inserted: "(A) Fuel economy.--

   Inserted: "(i) In general.--The credit amount determined under this paragraph shall be determined in accordance with the following table:

   Inserted: "In the case of a vehicle which achieves a fuel economy (expressed as a percentage of the 2002 model year city fuel eThe credit amount is--

   Inserted: At least 125 percent but less than 150 percent...................$600 At least 150 percent but less than 175 percent.................$1,100 At least 175 percent but less than 200 percent.................$1,600 At least 200 percent but less than 225 percent.................$2,100 At least 225 percent but less than 250 percent.................$2,600 At least 250 percent............................................$3,100.

   Inserted: "(ii) 2002 model year city fuel economy.--For purposes of clause (i), the 2002 model year city fuel economy with respect to a vehicle shall be determined on a gasoline gallon equivalent basis as determined by the Administrator of the Environmental Protection Agency using the tables provided in subsection (b)(2)(B) with respect to such vehicle.

   Inserted: "(B) Conservation credit.--The amount determined under subparagraph (A) with respect to a new advanced lean burn technology motor vehicle shall be increased by the conservation credit amount determined in accordance with the following table:

   Inserted: "In the case of a vehicle which achieves a lifetime fuel savings

   Original wording

   At the end add the following:

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As printed