Amends the Internal Revenue Code to allow individual taxpayers a nonrefundable tax credit for the purchase of tires certified by the Department of Transportation as energy efficient.
Requires the Secretary of Transportation to establish a system for the permanent labeling of tires as energy efficient.
[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2767 Introduced in House (IH)]
110th CONGRESS
1st Session
H. R. 2767
To amend the Internal Revenue Code of 1986 to provide a nonrefundable
credit for the purchase of energy efficient tires.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 18, 2007
Mr. Weller of Illinois introduced the following bill; which was
referred to the Committee on Ways and Means, and in addition to the
Committee on Energy and Commerce, for a period to be subsequently
determined by the Speaker, in each case for consideration of such
provisions as fall within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to provide a nonrefundable
credit for the purchase of energy efficient tires.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. NONREFUNDABLE CREDIT FOR ENERGY EFFICIENT TIRES.
(a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to nonrefundable
personal credits) is amended by inserting after section 25D the
following new section:
``SEC. 25E. ENERGY EFFICIENT TIRES.
``(a) Allowance of Credit.--In the case of an individual, there
shall be allowed as a credit against the tax imposed by this chapter
for the taxable year an amount equal to $15 for each qualified energy
efficient tire--
``(1) which is purchased by the taxpayer during the taxable
year for use by the taxpayer,
``(2) the original use of which commences with the
taxpayer, and
``(3) which is placed in service by the taxpayer during the
taxable year.
``(b) Definition.--For purposes of this section, the term
`qualified energy efficient tire' means a tire certified as a qualified
energy efficient tire pursuant to regulations issued under section
30123(d) of title 49, United States Code, that is purchased for use by
the taxpayer and not for resale.
``(c) Limitation Based on Amount of Tax.--In the case of a taxable
year to which section 26(a)(2) does not apply, the credit allowed under
subsection (a) for any taxable year shall not exceed the excess of--
``(1) the sum of the regular tax liability (as defined in
section 26(b)) plus the tax imposed by section 55, over
``(2) the sum of the credits allowable under this subpart
(other than this section) and section 27 for the taxable year.
``(d) Carryforwards of Unused Credit.--
``(1) Rule for years in which all personal credits allowed
against regular and alternative minimum tax.--In the case of a
taxable year to which section 26(a)(2) applies, if the credit
allowable under subsection (a) for any taxable year exceeds the
limitation imposed by section 26(a)(2) for such taxable year
reduced by the sum of the credits allowable under this subpart
(other than this section and sections 23, 25D, and 1400C), such
excess shall be carried to the succeeding taxable year and
added to the credit allowable under subsection (a) for such
taxable year.
``(2) Rule for other years.--In the case of a taxable year
to which section 26(a)(2) does not apply, if the credit
allowable under subsection (a) for any taxable year exceeds the
limitation imposed by subsection (c) for such taxable year,
such excess shall be carried to the succeeding taxable year and
added to the credit allowable under subsection (a) for such
taxable year.''.
(b) Conforming Amendments.--
(1) Section 23 of such Code is amended--
(A) in subsection (b)(4)(B) by inserting ``and
section 25E'' after ``this section'', and
(B) in subsection (c)(1) by striking ``25D and''
and inserting ``25D, 25E, and''.
(2) Section 24(b)(3)(B) of such Code is amended by striking
``and 25B'' and inserting ``25B, 25E, and''.
(3) Clauses (i) and (ii) of section 25(e)(1)(C) of such
Code is both amended by inserting ``25E,'' after ``25D,''.
(4) Section 25D(c) of such Code is amended--
(A) in paragraph (1) by inserting ``and section
25E'' after ``this section'', and
(B) in paragraph (2) by striking ``and 25B'' and
inserting ``25B, and 25E''.
(5) Section 904(i) of such Code is amended by striking
``and 25D'' and inserting ``and 25E''.
(6) Section 1400C(d) of such Code is amended--
(A) in paragraph (1) by striking ``and section
25D'' and inserting ``, 25D, and 25E'', and
(B) in paragraph (2) by striking ``and 25D'' and
inserting ``25D, and 25E''.
(7) The table of sections for subpart A of part IV of
subchapter A of chapter 1 of such Code (relating to
nonrefundable personal credits) is amended by inserting after
the item relating to section 25D the following new item:
``Sec. 25E. Energy efficient tires.''.
(c) Effective Date.--The amendments made by this section shall
apply to property placed in service in taxable years beginning after
December 31, 2006.
SEC. 2. ENERGY EFFICIENT TIRE LABELING.
Section 30123 of title 49, United States Code, is amended by
inserting after subsection (c) the following:
``(d) Energy Efficient Tire Labeling.--(1) The Secretary shall, by
regulation, establish a system for the permanent labeling of tires,
with respect to energy efficiency, similar to the system for other tire
attributes contained in section 575.104 of title 49, Code of Federal
Regulations. Such regulations shall establish criteria for certifying
replacement passenger tires as qualified energy efficient tires.
``(2) The primary factor for certifying replacement tires as
qualified energy efficient tires under the regulations required by this
subsection shall be achieving a rolling resistance coefficient that is
at least 10 percent lower than the average rolling resistance
coefficient (determined by mathematical mean) among replacement
passenger car tires of comparable price, size, traction, speed
capability, and wear resistance, as determined for the year 2006.
``(3) No replacement tire shall be certified as a qualified energy
efficient tire under the regulations required by this subsection if
such tire has--
``(A) a uniform tire quality grade rating below--
``(i) grade `A' for traction;
``(ii) grade `300' for treadwear; or
``(iii) grade `B' for temperature; and
``(B) a speed rating other than S or T.
``(4) As used in this subsection--
``(A) the term `uniform tire quality grade' means the grade
given a tire under the National Highway Traffic Safety
Administration's Uniform Tire Quality Grading System (section
575.104 of title 49, Code of Federal Regulations);
``(B) the term `rolling resistance coefficient' means the
value of the rolling resistance force divided by the wheel
load, as determined by the `SAE J1269' or `SAE J2452' tests
developed by the Society of Automotive Engineers; and
``(C) the term `replacement passenger car tires' means
passenger car tires within the scope of section 575 of title
49, Code of Federal Regulations, that are not original tires
included on a passenger vehicle by the vehicle manufacturer.''.
<all>
Introduced in House
Introduced in House
Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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