To amend the Internal Revenue Code of 1986 to modify and extend the credit for alternative motor vehicles, and for other purposes.

Amends the Internal Revenue Code to: (1) extend through 2012 the alternative motor vehicle tax credit for advanced lean-burn technology, hybrid, and new alternative fuel motor vehicles; (2) increase the amounts of such credit; (3) increase the threshold (the number of qualified vehicles manufactured by the manufacturer after December 31, 2005) for initiating the phaseout period for the eligibility of hybrid and advanced lean-burn technology vehicles for such credit; and (4) deny such credit to a taxpayer whose adjusted gross income exceeds $100,000 ($200,000 in the case of married couples filing jointly).

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4990 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4990

  To amend the Internal Revenue Code of 1986 to modify and extend the 
     credit for alternative motor vehicles, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 25, 2010

  Mr. Sestak 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 modify and extend the 
     credit for alternative motor vehicles, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION AND MODIFICATION OF THE ALTERNATIVE MOTOR VEHICLE 
              CREDIT.

    (a) Extension.--Subsection (k) of section 30B of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking ``December 31, 2010'' each place it appears 
        in paragraphs (2) and (4) and inserting ``December 31, 2012'', 
        and
            (2) by striking ``December 31, 2009'' in paragraph (3) and 
        inserting ``December 31, 2012''.
    (b) Modification of Credit Amount.--Paragraph (2) of section 30B(c) 
of such Code is amended--
            (1) by striking ``$2,400'' in the table contained in 
        subparagraph (A)(i) and inserting ``$2,700'', and
            (2) by striking ``$1,000'' in the table contained in 
        subparagraph (B) and inserting ``$1,300''.
    (c) Extension of Phaseout Period for Imitation on Number of 
Vehicles Eligible for Credit.--Paragraph (2) of section 30B(f) of such 
Code is amended by striking ``$60,000'' and inserting ``75,000''.
    (d) Limitation on Adjusted Gross Income of Individuals Claiming 
Credit.--Section 30B of such Code, as amended by this Act, is amended 
by redesignating subsections (j) and (k) as subsections (k) and (l), 
respectively, and by inserting after subsection (i) the following new 
subsection:
    ``(j) Limitation Based on Adjusted Gross Income.--In the case of an 
individual, no credit shall be allowed under this section for the 
taxable year if the taxpayer's adjusted gross income for the taxable 
year exceeds $100,000 ($200,000 in the case of a joint return).''.
    (e) Effective Date.--The amendments made by this section shall 
apply to vehicles placed in service after December 31, 2009, in taxable 
years ending after such date.
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