Amends the Internal Revenue Code to: (1) increase the percentage rate of the tax credit for the purchase of alternative fuel motor vehicles fueled by natural gas or liquefied natural gas; and (2) extend through 2017 the tax credit for new qualified alternative fuel vehicles.
Amends the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users to: (1) increase the percentages for grant funding to replace school buses under the clean school bus program; and (2) increase and extend funding for such program for FY2010-FY2015.
Requires the Administrator of the General Services Administration (GSA) to study and report to Congress on increasing the number of natural gas vehicles in the federal fleet.
[Congressional Bills 110th Congress]
[From the U.S. Government Printing Office]
[S. 3506 Introduced in Senate (IS)]
110th CONGRESS
2d Session
S. 3506
To amend the Internal Revenue Code of 1986 to increase the credit for
purchase of vehicles fueled by natural gas or liquefied natural gas and
to amend the Safe, Accountable, Flexible, Efficient Transportation
Equity Act: A Legacy for Users to reauthorize the Clean School Bus
Program of the Environmental Protection Agency.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 17, 2008
Mr. Reid (for Mr. Obama) 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 increase the credit for
purchase of vehicles fueled by natural gas or liquefied natural gas and
to amend the Safe, Accountable, Flexible, Efficient Transportation
Equity Act: A Legacy for Users to reauthorize the Clean School Bus
Program of the Environmental Protection Agency.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. INCREASED CREDIT FOR PURCHASE OF VEHICLES FUELED BY NATURAL
GAS OR LIQUIFIED NATURAL GAS; EXTENSION OF CREDIT.
(a) In General.--Subsection (e) of section 30B of the Internal
Revenue Code of 1986 (relating to new qualified alternative motor
vehicle credit) is amended by adding at the end the following new
paragraph:
``(6) Increased credit for natural gas vehicles.--
``(A) Increased credit percentage.--In the case of
any natural gas vehicle, the applicable percentage
under paragraph (2) shall be 100 percent.
``(B) Higher incremental cost limits for fleet
purchasers.--In the case of a taxpayer who places in
service 100 or more natural gas vehicles during the
taxable year, paragraph (3) shall be applied for such
year by doubling the amounts contained in such
paragraph.
``(C) Natural gas vehicle.--For purposes of this
paragraph, the term `natural gas vehicle' means any new
qualified alternative fuel motor vehicle fueled by
natural gas or liquified natural gas.''.
(b) Extension of Credit for All New Qualified Alternative Fuel
Vehicles Through 2017.--Paragraph (4) of section 30B(j) of such Code is
amended by striking ``December 31, 2010'' and inserting ``December 31,
2017''.
(c) Effective Date.--The amendments made by this section shall
apply to vehicles placed in service after December 31, 2008, in taxable
years ending after such date.
SEC. 2. CLEAN SCHOOL BUS PROGRAM.
(a) In General.--Section 6015 of the Safe, Accountable, Flexible,
Efficient Transportation Equity Act: A Legacy for Users (42 U.S.C.
16091a) is amended--
(1) in subsection (b)(5)--
(A) in subparagraph (A)--
(i) in the subparagraph heading, by
striking ``50'' and inserting ``75''; and
(ii) in the matter preceding clause (i), by
striking ``one-half'' and inserting ``75
percent''; and
(B) in subparagraph (B)--
(i) in the subparagraph heading, by
striking ``25'' and inserting ``50''; and
(ii) in the matter preceding clause (i), by
striking ``one-fourth'' and inserting ``50
percent''; and
(2) in subsection (d)--
(A) in paragraph (1), by striking ``and'' at the
end;
(B) in paragraph (2), by striking ``2008, 2009, and
2010.'' and inserting ``2008 and 2009; and''; and
(C) by adding at the end the following:
``(3) $110,000,000 for each of fiscal years 2010 through
2015.''.
(b) Technical Correction.--Section 741 of the Energy Policy Act of
2005 (42 U.S.C. 16091) is repealed.
SEC. 3. NATURAL GAS VEHICLES IN FEDERAL FLEET.
The Administrator of General Services, in consultation with the
Administrator of the Environmental Protection Agency, shall conduct,
and submit to Congress a report describing the results of, a study to
determine whether and the extent to which the number of natural gas
vehicles in the Federal fleet should be increased.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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