I
109th CONGRESS
1st Session
H. R. 4623
IN THE HOUSE OF REPRESENTATIVES
December 17, 2005
Mr. Kennedy of Minnesota (for himself and Mr. Udall of Colorado) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To repeal tax subsidies for oil and gas enacted by the Energy Policy Act of 2005 and to use the proceeds to double certain alternative energy incentives provided for in such Act.
Short title
This Act may be cited as the Clean Alternatives for Energy Independence Act of 2005
.
Repeal of tax subsidies enacted by the energy policy act of 2005 for oil and gas
Repeal
The following provisions, and amendments made by such provisions, of the Energy Policy Act of 2005 are hereby repealed:
Section 1323 (relating to temporary expensing for equipment used in refining of liquid fuels).
Section 1324 (relating to pass through to owners of deduction for capital costs incurred by small refiner cooperatives in complying with Environmental Protection Agency sulfur regulations).
Section 1325 (relating to natural gas distribution lines treated as 15-year property).
Section 1326 (relating to natural gas gathering lines treated as 7-year property).
Section 1328 (relating to determination of small refiner exception to oil depletion deduction).
Section 1329 (relating to amortization of geological and geophysical expenditures).
Administration of internal revenue code of 1986
The Internal Revenue Code of 1986 shall be applied and administered as if the provisions, and amendments, specified in subsection (a) had never been enacted.
Increase in fuel cell tax incentives for residential and business uses
Residential use
Subparagraph (C) of section 25D(b)(1) of the Internal Revenue Code of 1986 (relating to maximum credit) is amended by striking $500
and inserting $1,000
.
Business use
Increase
Subparagraph (B) of section (48)(c)(1) of such Code (relating to qualified fuel cell property) is amended by striking $500
and inserting $1,000
.
Extension
Subparagraph (E) of section (48)(c)(1) of such Code (relating to termination) is amended by striking December 31, 2007
and inserting December 31, 2012
.
Alternative motor vehicle tax incentives
Increases in credit
New qualified fuel cell motor vehicle
Subsection (b) of section 30B of such Code (relating to new qualified fuel cell motor vehicle credit) is amended—
in paragraph (1)—
by striking $8,000
in subparagraph (A) and inserting $16,000
,
by striking $10,000
in subparagraph (B) and inserting $20,000
,
by striking $20,000
in subparagraph (C) and inserting $40,000
, and
by striking $40,000
in subparagraph (D) and inserting $80,000
, and
in paragraph (2)(A)—
by striking $1,000
in clause (i) and inserting $2,000
,
by striking $1,500
in clause (ii) and inserting $3,000
,
by striking $2,000
in clause (iii) and inserting $4,000
,
by striking $2,500
in clause (iv) and inserting $5,000
,
by striking $3,000
in clause (v) and inserting $6,000
,
by striking $3,500
in clause (vi) and inserting $7,000
, and
by striking $4,000
in clause (vii) and inserting $8,000
.
New advanced lean burn technology motor vehicle
Fuel economy
The table in clause (i) of section 30B(c)(2)(A) of such Code (relating to fuel economy) is amended—
by striking $400
and inserting $800
,
by striking $800
and inserting $1,600
,
by striking $1,200
and inserting $2,400
,
by striking $1,600
and inserting $3,200
,
by striking $2,000
and inserting $4,000
, and
by striking $2,400
and inserting $4,800
.
Conservation
The table in subparagraph (B) of section 30B(c)(2) of such Code (relating to conservation credit) is amended—
by striking $250
and inserting $500
,
by striking $500
and inserting $1,000
,
by striking $750
and inserting $1,500
, and
by striking $1,000
and inserting $2,000
.
Expansion of number of new qualified hybrid and advanced lean burn technology vehicles eligible for credit
Paragraph (2) of section 30B(f) of such Code (relating to phaseout) is amended by striking 60,000
and inserting 120,000
.
Increase in credit for alternative fuel vehicle refueling property
Subsection (b) of section 30C of such Code (relating to limitation) is amended—
in paragraph (1) by striking $30,000
and inserting $60,000
, and
in paragraph (2) by striking $1,000
and inserting $2,000
.
Extensions of incentives
New qualified fuel cell motor vehicle
Paragraph (1) of section 30B(j) of such Code (relating to termination) is amended by striking December 31, 2014
and inserting December 31, 2019
.
Alternative fuel vehicle refueling property
Hydrogen-related property
Paragraph (1) of section 30C(g) of such Code (relating to termination) is amended by striking December 31, 2014
and inserting December 31, 2019
.
Other fuels-related property
Paragraph (2) of section 30C(g) of such Code (relating to termination) is amended by striking December 31, 2009
and inserting December 31, 2011
.
Effective date
The amendments made by this section shall take effect as if included in the provisions of the Energy Policy Act of 2005 to which they relate.