[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 265 Introduced in Senate (IS)]
108th CONGRESS
1st Session
S. 265
To amend the Internal Revenue Code of 1986 to include sports utility
vehicles in the limitation on the depreciation of certain luxury
automobiles.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 30, 2003
Mrs. Boxer (for herself, Mr. Schumer, and Mrs. Clinton) introduced the
following bill; which was read twice and referred to the Committee on
Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to include sports utility
vehicles in the limitation on the depreciation of certain luxury
automobiles.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``SUV Business Tax Loophole Closure
Act''.
SEC. 2. INCLUSION OF SPORTS UTILITY VEHICLES IN LIMITATION ON
DEPRECIATION OF CERTAIN LUXURY AUTOMOBILES.
(a) In General.--Section 280F(d)(5)(A) of the Internal Revenue Code
of 1986 (defining passenger automobile) is amended by striking clause
(ii) and all that follows and inserting the following new clause:
``(ii)(I) except as provided in subclause
(II) or (III), which is rated at 6,000 pounds
unloaded gross vehicle weight or less,
``(II) in the case of a truck or van, which
is rated at 6,000 pounds gross vehicle weight
or less, or
``(III) in the case of a sports utility
vehicle not described in subclause (I), which
is rated at more than 6,000 pounds but not more
than 14,000 pounds gross vehicle weight.''.
(b) Definition.--Section 280F(d)(5) of the Internal Revenue Code of
1986 is amended by adding at the end the following new subparagraph:
``(C) Sports utility vehicles.--The term `sports
utility vehicle' does not include any vehicle which--
``(I) does not have the primary
load carrying device or container
attached,
``(II) has a seating capacity of
more than 12 individuals,
``(III) is designed for more than 9
individuals in seating rearward of the
driver's seat,
``(IV) is equipped with an open
cargo area, or a covered box not
readily accessible from the passenger
compartment, of at least 72.0 inches in
interior length, or
``(V) has an integral enclosure,
fully enclosing the driver compartment
and load carrying device, does not have
seating rearward of the driver's seat,
and has no body section protruding more
than 30 inches ahead of the leading
edge of the windshield.''.
(c) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act.
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