I
110th CONGRESS
1st Session
H. R. 765
IN THE HOUSE OF REPRESENTATIVES
January 31, 2007
Mr. Weller of Illinois introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase and extend the alternative motor vehicle credit for certain flexible fuel hybrid vehicles.
Increase and extension of credit for certain flexible fuel hybrid vehicles
In general
Subsection (a) of section 30B of the Internal Revenue
Code of 1986 is amended by striking and
at the end of paragraph
(3), by striking paragraph (4), and by inserting after paragraph (3) the
following new paragraphs:
the new flexible fuel hybrid motor vehicle credit determined under subsection (e), and
the new qualified alternative fuel motor vehicle credit determined under subsection (f).
.
New flexible fuel hybrid motor vehicle credit
Section 30B of such Code is amended by redesignating subsections (e) through (j) as subsections (f) through (k), respectively, and by inserting after subsection (d) the following new subsection:
New flexible fuel hybrid motor vehicle credit
In general
For purposes of subsection (a), the new flexible fuel hybrid motor vehicle credit determined under this subsection for the taxable year is the credit amount determined under paragraph (2) with respect to a new hybrid flexible fuel motor vehicle placed in service by the taxpayer during the taxable year.
Credit amount
In general
The credit amount determined under this paragraph shall be determined in accordance with the following table:
| In the case of a vehicle the city fuel economy of which (expressed as a percentage of the city fuel economy of the comparable vehicle referred to in paragraph (3)(B)) is— | The credit amount is— |
| At least 125 percent but less than 150 percent | $1,500 |
| At least 150 percent but less than 175 percent | $2,000 |
| At least 175 percent but less than 200 percent | $2,500 |
| At least 200 percent but less than 225 percent | $3,000 |
| At least 225 percent | $3,500 |
Fuel economy
For purposes of subparagraph (A), the city fuel economy of the vehicle for which the credit is being determined shall be determined on a E–85 ethanol gallon equivalent basis (as determined by the Administrator of the Environmental Protection Agency), and the city fuel economy of the comparable vehicle referred to in paragraph (3)(B) shall be determined on a gasoline gallon equivalent basis (as so determined).
New flexible fuel hybrid motor vehicle
For purposes of this subsection, the term new flexible fuel hybrid motor vehicle means a new qualified hybrid motor vehicle—
which is capable of operating on an alternative fuel, on gasoline, and on any blend thereof, and
which is certified by the Administrator of the Environmental Protection Agency, in consultation with the manufacturer, to have achieved a city fuel economy using E–85 ethanol which is at least 125 percent of the city fuel economy of a comparable vehicle that is a nonhybrid internal combustion vehicle fueled by gasoline.
Coordination with new qualified hybrid motor vehicle credit
Subsection (d) shall not apply to any motor vehicle for which credit is allowed under this subsection.
.
Extension of termination
Subsection (k) of section 30B of such Code, as
redesignated by this section, is amended by striking and
at the
end of paragraph (3), by redesignating paragraph (4) as paragraph (5), and by
inserting after paragraph (3) the following new paragraph:
in the case of a new flexible fuel hybrid motor vehicle (as described in subsection (e)), December 31, 2014, and
.
Vehicles included in numeric limitation
Paragraph (1) of section 30B(g) of such
Code, as redesignated by this section, is amended by striking or
(d)
and inserting , (d), or (e)
.
Conforming amendments
Subparagraph (A) of
section 30B(i)(5) of such Code, as redesignated by this section, is amended by
striking subsection (e)
and inserting subsection
(f)
.
Paragraph (6) of
section 30B(i) of such Code, as redesignated by this section, is amended by
striking subsection (g)
and inserting subsection
(h)
.
Subsection (k) of section 30(B) of such Code, as redesignated by this section, is amended—
in paragraph (2),
by inserting other than a new flexible fuel hybrid motor vehicle
described in subsection (e)
after a new qualified hybrid motor
vehicle (as described in subsection (d)(2)(A))
,
in paragraph (3), by inserting other
than a new flexible fuel hybrid motor vehicle described in subsection
(e)
after a new qualified hybrid motor vehicle (as described in
subsection (d)(2)(B))
, and
in paragraph (5),
as redesignated by this section, by striking subsection (e)
and
inserting subsection (f)
.
Subsection (b) of
section 38 of such Code is amended by striking section 30B(g)(1)
and inserting section 30B(h)(1)
.
Paragraph (36) of section 1016(a) of such
Code is amended by striking section 30B(h)(4)
and inserting
section 30B(i)(4)
.
Effective date
The amendments made by this section shall apply to property placed in service after December 31, 2006.