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‘‘(C) $25,000, if such vehicle has a gross ve-
1
hicle weight rating of more than 14,000 pounds
2
but not more than 26,000 pounds, and
3
‘‘(D) $40,000, if such vehicle has a gross ve-
4
hicle weight rating of more than 26,000 pounds.
5
‘‘(4) Q
UALIFIED ALTERNATIVE FUEL MOTOR VE
-
6
HICLE DEFINED
.—For purposes of this subsection—
7
‘‘(A) I
N GENERAL
.—The term ‘qualified al-
8
ternative fuel motor vehicle’ means any motor
9
vehicle—
10
‘‘(i) which is only capable of operating
11
on an alternative fuel,
12
‘‘(ii) the original use of which com-
13
mences with the taxpayer,
14
‘‘(iii) which is acquired by the tax-
15
payer for use or lease, but not for resale,
16
and
17
‘‘(iv) which is made by a manufac-
18
turer.
19
‘‘(B) A
LTERNATIVE FUEL
.—The term ‘alter-
20
native fuel’ means compressed natural gas, lique-
21
fied natural gas, liquefied petroleum gas, hydro-
22
gen, and any liquid at least 85 percent of the
23
volume of which consists of methanol.
24
‘‘(5) C
REDIT FOR MIXED
-
FUEL VEHICLES
.—
25
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‘‘(A) I
N GENERAL
.—In the case of a mixed-
1
fuel vehicle placed in service by the taxpayer
2
during the taxable year, the credit determined
3
under this subsection is an amount equal to—
4
‘‘(i) in the case of a 75/25 mixed-fuel
5
vehicle, 70 percent of the credit which would
6
have been allowed under this subsection if
7
such vehicle was a qualified alternative fuel
8
motor vehicle, and
9
‘‘(ii) in the case of a 90/10 mixed-fuel
10
vehicle, 90 percent of the credit which would
11
have been allowed under this subsection if
12
such vehicle was a qualified alternative fuel
13
motor vehicle.
14
‘‘(B) M
IXED
-
FUEL VEHICLE
.—For purposes
15
of this subsection, the term ‘mixed-fuel vehicle’
16
means any motor vehicle described in subpara-
17
graph (C) or (D) of paragraph (3), which—
18
‘‘(i) is certified by the manufacturer as
19
being able to perform efficiently in normal
20
operation on a combination of an alter-
21
native fuel and a petroleum-based fuel,
22
‘‘(ii) either—
23
‘‘(I) has received a certificate of
24
conformity under the Clean Air Act, or
25
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‘‘(II) has received an order certi-
1
fying the vehicle as meeting the same
2
requirements as vehicles which may be
3
sold or leased in California and meets
4
or exceeds the low emission vehicle
5
standard under section 88.105-94 of
6
title 40, Code of Federal Regulations,
7
for that make and model year vehicle,
8
‘‘(iii) the original use of which com-
9
mences with the taxpayer,
10
‘‘(iv) which is acquired by the tax-
11
payer for use or lease, but not for resale,
12
and
13
‘‘(v) which is made by a manufacturer.
14
‘‘(C) 75/25
MIXED
-
FUEL
VEHICLE
.—For
15
purposes of this subsection, the term ‘75/25
16
mixed-fuel vehicle’ means a mixed-fuel vehicle
17
which operates using at least 75 percent alter-
18
native fuel and not more than 25 percent petro-
19
leum-based fuel.
20
‘‘(D) 90/10
MIXED
-
FUEL
VEHICLE
.—For
21
purposes of this subsection, the term ‘90/10
22
mixed-fuel vehicle’ means a mixed-fuel vehicle
23
which operates using at least 90 percent alter-
24
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HR 6 EAS1S/PP
native fuel and not more than 10 percent petro-
1
leum-based fuel.
2
‘‘(e) A
PPLICATION
W
ITH
O
THER
C
REDITS
.—The credit
3
allowed under subsection (a) for any taxable year shall not
4
exceed the excess (if any) of—
5
‘‘(1) the regular tax for the taxable year reduced
6
by the sum of the credits allowable under subpart A
7
and sections 27, 29, and 30, over
8
‘‘(2) the tentative minimum tax for the taxable
9
year.
10
‘‘(f) O
THER
D
EFINITIONS AND
S
PECIAL
R
ULES
.—For
11
purposes of this section—
12
‘‘(1) C
ONSUMABLE FUEL
.—The term ‘consumable
13
fuel’ means any solid, liquid, or gaseous matter which
14
releases energy when consumed by an auxiliary power
15
unit.
16
‘‘(2) M
OTOR VEHICLE
.—The term ‘motor vehicle’
17
has the meaning given such term by section 30(c)(2).
18
‘‘(3) C
ITY FUEL ECONOMY
.—The city fuel econ-
19
omy with respect to any vehicle shall be measured in
20
a manner which is substantially similar to the man-
21
ner city fuel economy is measured in accordance with
22
procedures under part 600 of subchapter Q of chapter
23
I of title 40, Code of Federal Regulations, as in effect
24
on the date of the enactment of this section.
25
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‘‘(4) O
THER
TERMS
.—The terms ‘automobile’,
1
‘passenger automobile’, ‘light truck’, and ‘manufac-
2
turer’ have the meanings given such terms in regula-
3
tions prescribed by the Administrator of the Environ-
4
mental Protection Agency for purposes of the admin-
5
istration of title II of the Clean Air Act (42 U.S.C.
6
7521 et seq.).
7
‘‘(5) R
EDUCTION IN BASIS
.—For purposes of this
8
subtitle, the basis of any property for which a credit
9
is allowable under subsection (a) shall be reduced by
10
the amount of such credit so allowed (determined
11
without regard to subsection (e)).
12
‘‘(6) N
O DOUBLE BENEFIT
.—The amount of any
13
deduction or other credit allowable under this
14
chapter—
15
‘‘(A) for any incremental cost taken into ac-
16
count in computing the amount of the credit de-
17
termined under subsection (d) shall be reduced
18
by the amount of such credit attributable to such
19
cost, and
20
‘‘(B) with respect to a vehicle described
21
under subsection (b) or (c), shall be reduced by
22
the amount of credit allowed under subsection
23
(a) for such vehicle for the taxable year.
24
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‘‘(7) P
ROPERTY
USED
BY
TAX
-
EXEMPT
ENTI
-
1
TIES
.—In the case of a credit amount which is allow-
2
able with respect to a motor vehicle which is acquired
3
by an entity exempt from tax under this chapter, the
4
person which sells or leases such vehicle to the entity
5
shall be treated as the taxpayer with respect to the ve-
6
hicle for purposes of this section and the credit shall
7
be allowed to such person, but only if the person
8
clearly discloses to the entity at the time of any sale
9
or lease the specific amount of any credit otherwise
10
allowable to the entity under this section.
11
‘‘(8) R
ECAPTURE
.—The Secretary shall, by regu-
12
lations, provide for recapturing the benefit of any
13
credit allowable under subsection (a) with respect to
14
any property which ceases to be property eligible for
15
such credit (including recapture in the case of a lease
16
period of less than the economic life of a vehicle).
17
‘‘(9) P
ROPERTY USED OUTSIDE UNITED STATES
,
18
ETC
.,
NOT QUALIFIED
.—No credit shall be allowed
19
under subsection (a) with respect to any property re-
20
ferred to in section 50(b) or with respect to the por-
21
tion of the cost of any property taken into account
22
under section 179.
23
‘‘(10) E
LECTION
TO
NOT
TAKE
CREDIT
.—No
24
credit shall be allowed under subsection (a) for any
25
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HR 6 EAS1S/PP
vehicle if the taxpayer elects to not have this section
1
apply to such vehicle.
2
‘‘(11) C
ARRYBACK
AND
CARRYFORWARD
AL
-
3
LOWED
.—
4
‘‘(A) I
N GENERAL
.—If the credit amount al-
5
lowable under subsection (a) for a taxable year
6
exceeds the amount of the limitation under sub-
7
section (e) for such taxable year (in this para-
8
graph referred to as the ‘unused credit year’),
9
such excess shall be allowed as a credit carryback
10
for each of the 3 taxable years beginning after
11
September 30, 2002, which precede the unused
12
credit year and a credit carryforward for each of
13
the 20 taxable years which succeed the unused
14
credit year.
15
‘‘(B) R
ULES
.—Rules similar to the rules of
16
section 39 shall apply with respect to the credit
17
carryback and credit carryforward under sub-
18
paragraph (A).
19
‘‘(12) I
NTERACTION
WITH
AIR
QUALITY
AND
20
MOTOR VEHICLE SAFETY STANDARDS
.—Unless other-
21
wise provided in this section, a motor vehicle shall
22
not be considered eligible for a credit under this sec-
23
tion unless such vehicle is in compliance with—
24
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HR 6 EAS1S/PP
‘‘(A) the applicable provisions of the Clean
1
Air Act for the applicable make and model year
2
of the vehicle (or applicable air quality provi-
3
sions of State law in the case of a State which
4
has adopted such provision under a waiver
5
under section 209(b) of the Clean Air Act), and
6
‘‘(B) the motor vehicle safety provisions of
7
sections 30101 through 30169 of title 49, United
8
States Code.
9
‘‘(g) R
EGULATIONS
.—
10
‘‘(1) I
N GENERAL
.—Except as provided in para-
11
graph (2), the Secretary shall promulgate such regula-
12
tions as necessary to carry out the provisions of this
13
section.
14
‘‘(2) C
OORDINATION IN PRESCRIPTION OF CER
-
15
TAIN REGULATIONS
.—The Secretary of the Treasury,
16
in coordination with the Secretary of Transportation
17
and the Administrator of the Environmental Protec-
18
tion Agency, shall prescribe such regulations as nec-
19
essary to determine whether a motor vehicle meets the
20
requirements to be eligible for a credit under this sec-
21
tion.
22
‘‘(h) T
ERMINATION
.—This section shall not apply to
23
any property purchased after—
24
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HR 6 EAS1S/PP
‘‘(1) in the case of a new qualified fuel cell motor
1
vehicle (as described in subsection (b)), December 31,
2
2011, and
3
‘‘(2) in the case of any other property, December
4
31, 2006.’’.
5
(b) C
ONFORMING
A
MENDMENTS
.—
6
(1) Section 1016(a) is amended by striking
7
‘‘and’’ at the end of paragraph (27), by striking the
8
period at the end of paragraph (28) and inserting ‘‘,
9
and’’, and by adding at the end the following new
10
paragraph:
11
‘‘(29) to the extent provided in section
12
30B(f)(5).’’.
13
(2) Section 55(c)(2) is amended by inserting
14
‘‘30B(e),’’ after ‘‘30(b)(3)’’.
15
(3) Section 6501(m) is amended by inserting
16
‘‘30B(f)(10),’’ after ‘‘30(d)(4),’’.
17
(4) The table of sections for subpart B of part IV
18
of subchapter A of chapter 1 is amended by inserting
19
after the item relating to section 30A the following
20
new item:
21
‘‘Sec. 30B. Alternative motor vehicle credit.’’.
(e) E
FFECTIVE
D
ATE
.—The amendments made by this
22
section shall apply to property placed in service after Sep-
23
tember 30, 2002, in taxable years ending after such date.
24
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HR 6 EAS1S/PP
SEC. 2002. MODIFICATION OF CREDIT FOR QUALIFIED
1
ELECTRIC VEHICLES.
2
(a) A
MOUNT OF
C
REDIT
.—
3
(1) I
N GENERAL
.—Section 30(a) (relating to al-
4
lowance of credit) is amended by striking ‘‘10 percent
5
of’’.
6
(2) L
IMITATION OF CREDIT ACCORDING TO TYPE
7
OF VEHICLE
.—Section 30(b) (relating to limitations)
8
is amended—
9
(A) by striking paragraphs (1) and (2) and
10
inserting the following new paragraph:
11
‘‘(1) L
IMITATION ACCORDING TO TYPE OF VEHI
-
12
CLE
.—The amount of the credit allowed under sub-
13
section (a) for any vehicle shall not exceed the greatest
14
of the following amounts applicable to such vehicle:
15
‘‘(A) In the case of a vehicle which conforms
16
to the Motor Vehicle Safety Standard 500 pre-
17
scribed by the Secretary of Transportation, as in
18
effect on the date of the enactment of the Energy
19
Tax Incentives Act of 2003, the lesser of—
20
‘‘(i) 10 percent of the manufacturer’s
21
suggested retail price of the vehicle, or
22
‘‘(ii) $1,500.
23
‘‘(B) In the case of a vehicle not described
24
in subparagraph (A) with a gross vehicle weight
25
rating not exceeding 8,500 pounds—
26
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HR 6 EAS1S/PP
‘‘(i) $3,500, or
1
‘‘(ii) $6,000, if such vehicle is—
2
‘‘(I) capable of a driving range of
3
at least 100 miles on a single charge of
4
the vehicle’s rechargeable batteries as
5
measured pursuant to the urban dyna-
6
mometer schedules under appendix I to
7
part 86 of title 40, Code of Federal
8
Regulations, or
9
‘‘(II) capable of a payload capac-
10
ity of at least 1,000 pounds.
11
‘‘(C) In the case of a vehicle with a gross
12
vehicle weight rating exceeding 8,500 but not ex-
13
ceeding 14,000 pounds, $10,000.
14
‘‘(D) In the case of a vehicle with a gross
15
vehicle weight rating exceeding 14,000 but not
16
exceeding 26,000 pounds, $20,000.
17
‘‘(E) In the case of a vehicle with a gross
18
vehicle weight rating exceeding 26,000 pounds,
19
$40,000.’’, and
20
(B) by redesignating paragraph (3) as
21
paragraph (2).
22
(3) C
ONFORMING AMENDMENTS
.—
23
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