S.Amdt. 94

SA 94. Mr. VANCE submitted an amendment intended to be proposed by
him to the bill H.R. 3746, to provide for a responsible increase to the
debt ceiling; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

TITLE ___--INCOME TAX PROVISIONS

SEC. _01. AMENDMENT OF 1986 CODE.

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.

Subtitle A--Repeal of Electric Vehicle Incentives

SEC. _11. CLEAN VEHICLE CREDIT.

(a) Per Vehicle Dollar Limitation.--Section 30D(b) is
amended by striking paragraphs (2) and (3) and inserting the
following:
``(2) Base amount.--The amount determined under this
paragraph is $2,500.
``(3) Battery capacity.--In the case of a vehicle which
draws propulsion energy from a battery with not less than 5
kilowatt hours of capacity, the amount determined under this
paragraph is $417, plus $417 for each kilowatt hour of
capacity in excess of 5 kilowatt hours. The amount determined
under this paragraph shall not exceed $5,000.''.
(b) Final Assembly.--Section 30D(d) is amended--
(1) in paragraph (1)--
(A) in subparagraph (E), by adding ``and'' at the end,
(B) in subparagraph (F)(ii), by striking the comma at the
end and inserting a period, and
(C) by striking subparagraph (G), and
(2) by striking paragraph (5).
(c) Definition.--
(1) In general.--Section 30D(d), as amended by subsection
(b), is amended--
(A) in the heading, by striking ``Clean'' and inserting
``Qualified Plug-In Electric Drive Motor'',
(B) in paragraph (1)--
(i) in the matter preceding subparagraph (A), by striking
``clean'' and inserting ``qualified plug-in electric drive
motor'',
(ii) in subparagraph (C), by striking ``qualified'' before
``manufacturer'',
(iii) in subparagraph (F)(i), by striking ``7'' and
inserting ``4'', and
(iv) by striking subparagraph (H),
(C) in paragraph (3)--
(i) in the heading, by striking ``qualified manufacturer''
and inserting ``Manufacturer'', and
(ii) by striking ``The term `qualified manufacturer'
means'' and all that follows through the period and inserting
``The term `manufacturer' has the meaning given such term 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.).'', and
(D) by striking paragraph (6).
(2) Conforming amendments.--Section 30D is amended--
(A) in subsection (a), by striking ``new clean vehicle''
and inserting ``new qualified plug-in electric drive motor
vehicle'', and
(B) in subsection (b)(1), by striking ``new clean vehicle''
and inserting ``new qualified plug-in electric drive motor
vehicle''.
(d) Critical Mineral Requirements Removed.--Section 30D is
amended by striking subsection (e).
(e) Limitation on Number of Vehicles Eligible for Credit
Restored.--
(1) In general.--Section 30D is amended by inserting after
subsection (d) the following:
``(e) Limitation on Number of New Qualified Plug-In
Electric Drive Motor Vehicles Eligible for Credit.--
``(1) In general.--In the case of a new qualified plug-in
electric drive motor vehicle sold during the phaseout period,
only the applicable percentage of the credit otherwise
allowable under subsection (a) shall be allowed.
``(2) Phaseout period.--For purposes of this subsection,
the phaseout period is the period beginning with the second
calendar quarter following the calendar quarter which
includes the first date on which the number of new qualified
plug-in electric drive motor vehicles manufactured by the
manufacturer of the vehicle referred to in paragraph (1) sold
for use in the United States after December 31, 2009, is at
least 200,000.
``(3) Applicable percentage.--For purposes of paragraph
(1), the applicable percentage is--
``(A) 50 percent for the first 2 calendar quarters of the
phaseout period,
``(B) 25 percent for the 3rd and 4th calendar quarters of
the phaseout period, and (C)
``(C) 0 percent for each calendar quarter thereafter.
``(4) Controlled groups.--Rules similar to the rules of
section 30B(f)(4) shall apply for purposes of this
subsection.''.
(2) Excluded entities.--Section 30D(d), as amended by
Public Law 117-169, is amended by striking paragraph (7).
(f) Special Rules Repealed.--Section 30D(f) is amended by
striking paragraphs (8), (9), (10), and (11).
(g) Transfer of Credit Repealed.--
(1) In general.--Section 30D is amended by striking
subsection (g).
(2) Restoration of text relating to plug-in electric
vehicles.--Section 30D is amended by inserting after
subsection (f) the following:
``(g) Credit Allowed for 2- and 3-wheeled Plug-In Electric
Vehicles.--
``(1) In general.--In the case of a qualified 2- or 3-
wheeled plug-in electric vehicle--
``(A) 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 the applicable amount with respect to each such
qualified 2- or 3-wheeled plug-in electric vehicle placed in
service by the taxpayer during the taxable year, and
``(B) the amount of the credit allowed under subparagraph
(A) shall be treated as a credit allowed under subsection
(a).
``(2) Applicable amount.--For purposes of paragraph (1),
the applicable amount is an amount equal to the lesser of--
``(A) 10 percent of the cost of the qualified 2- or 3-
wheeled plug-in electric vehicle, or
``(B) $2,500.

[[Page S1851]]

``(3) Qualified 2- or 3-wheeled plug-in electric vehicle.--
The term `qualified 2- or 3-wheeled plug-in electric vehicle'
means any vehicle which--
``(A) has 2 or 3 wheels,
``(B) meets the requirements of subparagraphs (A), (B),
(C), (E), and (F) of subsection (d)(1) (determined by
substituting `2.5 kilowatt hours' for `4 kilowatt hours' in
subparagraph (F)(i)),
``(C) is manufactured primarily for use on public streets,
roads, and highways,
``(D) is capable of achieving a speed of 45 miles per hour
or greater, and
``(E) is acquired--
``(i) after December 31, 2011, and before January 1, 2014,
or
``(ii) in the case of a vehicle that has 2 wheels, after
December 31, 2014, and before January 1, 2022.''.
(3) Conforming amendments reversed.--Section 30D(f), as
amended by Public Law 117-169, is amended--
(A) by inserting after paragraph (2) the following:
``(3) Property used by tax-exempt entity.--In the case of a
vehicle the use of which is described in paragraph (3) or (4)
of section 50(b) and which is not subject to a lease, the
person who sold such vehicle to the person or entity using
such vehicle shall be treated as the taxpayer that placed
such vehicle in service, but only if such person clearly
discloses to such person or entity in a document the amount
of any credit allowable under subsection (a) with respect to
such vehicle (determined without regard to subsection (c)).
For purposes of subsection (c), property to which this
paragraph applies shall be treated as of a character subject
to an allowance for depreciation.'', and
(B) in paragraph (8), by striking ``, including any vehicle
with respect to which the taxpayer elects the application of
subsection (g)''.
(h) Termination Repealed.--Section 30D is amended by
striking subsection (h).
(i) Additional Conforming Amendments.--
(1) The heading of section 30D is amended by striking
``clean vehicle credit'' and inserting ``new qualified plug-
in electric drive motor vehicles''.
(2) Section 30B is amended--
(A) in subsection (h)(8) by inserting ``, except that no
benefit shall be recaptured if such property ceases to be
eligible for such credit by reason of conversion to a
qualified plug-in electric drive motor vehicle'', before the
period at the end, and
(B) by inserting after subsection (h) the following
subsection:
``(i) Plug-In Conversion Credit.--
``(1) In general.--For purposes of subsection (a), the
plug-in conversion credit determined under this subsection
with respect to any motor vehicle which is converted to a
qualified plug-in electric drive motor vehicle is 10 percent
of so much of the cost of the converting such vehicle as does
not exceed $40,000.
``(2) Qualified plug-in electric drive motor vehicle.--For
purposes of this subsection, the term `qualified plug-in
electric drive motor vehicle' means any new qualified plug-in
electric drive motor vehicle (as defined in section 30D,
determined without regard to whether such vehicle is made by
a manufacturer or whether the original use of such vehicle
commences with the taxpayer).
``(3) Credit allowed in addition to other credits.--The
credit allowed under this subsection shall be allowed with
respect to a motor vehicle notwithstanding whether a credit
has been allowed with respect to such motor vehicle under
this section (other than this subsection) in any preceding
taxable year.
``(4) Termination.--This subsection shall not apply to
conversions made after December 31, 2011.''.
(3) Section 38(b)(30) is amended by striking ``clean'' and
inserting ``qualified plug-in electric drive motor''.
(4) Section 6213(g)(2) is amended by striking subparagraph
(T).
(5) Section 6501(m) is amended by striking ``30D(f)(6)''
and inserting ``30D(e)(4)''.
(6) The table of sections for subpart B of part IV of
subchapter A of chapter 1 is amended by striking the item
relating to section 30D and inserting after the item relating
to section 30C the following item:

``Sec. 30D. New qualified plug-in electric drive motor vehicles.''.
(j) Gross up Repealed.--Section 13401 of Public Law 117-169
is amended by striking subsection (j).
(k) Transition Rule Repealed.--Section 13401 of Public Law
117-169 is amended by striking subsection (l).
(l) Effective Dates.--
(1) In general.--Except as provided in paragraphs (2), (3),
(4), and (5), the amendments made by this section shall apply
to vehicles placed in service after December 31, 2022.
(2) Final assembly.--The amendments made by subsection (b)
shall apply to vehicles sold after August 16, 2022.
(3) Manufacturer limitation.--The amendment made by
subsections (d) and (e) shall apply to vehicles sold after
December 31, 2022.
(4) Transfer of credit.--The amendments made by subsection
(g) shall apply to vehicles placed in service after December
31, 2023.
(5) Transition rule.--The amendment made by subsection (k)
shall take effect as if included in Public Law 117-169.

SEC. _12. REPEAL OF CREDIT FOR PREVIOUSLY-OWNED CLEAN
VEHICLES.

(a) In General.--Subpart A of part IV of subchapter A of
chapter 1 is amended by striking section 25E (and by striking
the item relating to such section in the table of sections
for such subpart).
(b) Conforming Amendment.--Section 6213(g)(2) is amended by
striking subparagraph (U).
(c) Effective Date.--The amendments made by this section
shall apply to vehicles acquired after December 31, 2022.

SEC. _13. REPEAL OF CREDIT FOR QUALIFIED COMMERCIAL CLEAN
VEHICLES.

(a) In General.--Subpart D of part IV of subchapter A of
chapter 1 is amended by striking section 45W (and by striking
the item relating to such section in the table of sections
for such subpart).
(b) Conforming Amendments.--
(1) Section 38(b) is amended by striking paragraph (37).
(2) Section 6213(g)(2) is amended by striking subparagraph
(V).
(c) Effective Date.--The amendments made by this section
shall apply to vehicles acquired after December 31, 2022.

SEC. _14. ALTERNATIVE FUEL REFUELING PROPERTY CREDIT.

(a) In General.--Section 30C(i) is amended by striking
``December 31, 2032'' and inserting ``December 31, 2021''.
(b) Property of a Character Subject to Depreciation.--
(1) In general.--Section 30C(a) is amended by striking ``(6
percent in the case of property of a character subject to
depreciation)''.
(2) Modification of credit limitation.--Subsection (b) of
section 30C is amended--
(A) in the matter preceding paragraph (1)--
(i) by striking ``with respect to any single item of'' and
inserting ``with respect to all'', and
(ii) by inserting ``at a location'' before ``shall not
exceed'', and
(B) in paragraph (1), by striking ``$100,000 in the case of
any such item of property'' and inserting ``$30,000 in the
case of a property''.
(3) Bidirectional charging equipment not included; eligible
census tract requirement removed.--Section 30C(c) is amended
to read as follows:
``(c) Qualified Alternative Fuel Vehicle Refueling
Property.--For purposes of this section, the term `qualified
alternative fuel vehicle refueling property' has the same
meaning as the term `qualified clean-fuel vehicle refueling
property' would have under section 179A if--
``(1) paragraph (1) of section 179A(d) did not apply to
property installed on property which is used as the principal
residence (within the meaning of section 121) of the
taxpayer, and
``(2) only the following were treated as clean-burning
fuels for purposes of section 179A(d):
``(A) Any fuel at least 85 percent of the volume of which
consists of one or more of the following: ethanol, natural
gas, compressed natural gas, liquified natural gas, liquefied
petroleum gas, or hydrogen.
``(B) Any mixture--
``(i) which consists of two or more of the following:
biodiesel (as defined in section 40A(d)(1)), diesel fuel (as
defined in section 4083(a)(3)), or kerosene, and
``(ii) at least 20 percent of the volume of which consists
of biodiesel (as so defined) determined without regard to any
kerosene in such mixture.
``(C) Electricity.''.
(c) Certain Electric Charging Stations Not Included as
Qualified Alternative Fuel Vehicle Refueling Property; Wage
and Apprenticeship Requirements Removed.--Section 30C is
amended by striking subsections (f) and (g) and redesignating
subsections (h) and (i) as subsections (f) and (g),
respectively.
(d) Effective Date.--The amendments made by this section
shall apply to property placed in service after December 31,
2021.

Subtitle B--Elimination of Marriage Penalty

SEC. _21. EARNED INCOME TAX CREDIT.

(a) In General.--Section 32(b)(2)(B) is amended by striking
``increased by $5,000'' and inserting ``equal to 200 percent
of the amount otherwise applicable under such subparagraph''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2022.
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