S. 2345Senate109th Congress (2005-2007)In Committee

America's Business Choice Act

Introduced March 1, 2006

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1581)

March 1, 2006

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SenateIntro Referral

Introduced in Senate

March 1, 2006

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1581)

March 1, 2006

Floor Debate

5 members

What members said about S. 2345 on the floor

1 Republican4 Democrats
Mark L. Pryor
Sen. Mark L. PryorD-AR · Mar 1, 2006

Mr. President, this week marks the 6-month anniversary of when Hurricane Katrina ravaged the gulf coast, destroying lives and dreams along the way. Thousands upon thousands of homes were also ruined,…

Barack Obama
Sen. Barack ObamaD-IL · Mar 1, 2006

Mr. President, less than 2 months ago, it was announced by Exelon Nuclear that an environmental monitoring program discovered higher than normal concentrations of tritium in the groundwater near the…

Kent Conrad
Sen. Kent ConradD-ND · Mar 1, 2006

Mr. President, today, I am reintroducing, with Senator Rockefeller, a bill to make some small but important changes to the Qualified Zone Academy Bond, QZAB, program. The QZAB program helps…

Barbara Boxer
Sen. Barbara BoxerD-CA · Mar 1, 2006

Mr. President, I am pleased to introduce legislation today to double the funding for veterans mental health care over the next 5 years. Our brave veterans returning from Iraq and Afghanistan have…

Chuck Grassley
Sen. Chuck GrassleyR-IA · Mar 1, 2006

Mr. President, I ask unanimous consent that the text of a bill I introduced today that may be cited as the ``America's Business Choice Act'' be printed in the Record.

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Chuck Grassley
Sen. Chuck GrassleyR-IA · Mar 1, 2006

Mr. President, I ask unanimous consent that the text of a bill I introduced today that may be cited as the ``America's Business Choice Act'' be printed in the Record.

Bill Text

Latest available legislative text

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Introduced in SenateIssued March 1, 2006

II

109th CONGRESS

2d Session

S. 2345

IN THE SENATE OF THE UNITED STATES

March 1, 2006

Mr. Grassley (for himself and Mr. Baucus) 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 exempt passenger vehicles eligible for the alternative motor vehicle credit and the credit for qualified electric vehicles from the limitation on depreciation for luxury automobiles.

1.

Short title

This Act may be cited as the America’s Business Choice Act.

2.

Exception from depreciation limitation for certain alternative and electric passenger automobiles

(a)

In general

Paragraph (1) of section 280F(a) of the Internal Revenue Code of 1986 (relating to limitation) is amended by adding at the end the following new subparagraph:

(D)

Special rule for certain alternative motor vehicles and qualified electric vehicles

Subparagraph (A) shall not apply to any motor vehicle for which a credit is allowable under section 30 or 30B.

.

(b)

Conforming amendment

Subparagraph (C) of section 280F(a)(1) of the Internal Revenue Code of 1986 is amended by striking clause (ii) and by redesignating clause (iii) as clause (ii).

(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.