Cleaner Trucks for America Act of 2009 - Amends the Internal Revenue Code to: (1) increase the credit amount for new qualified alternative fuel motor vehicles with gross vehicle weight ratings of more than 26,000 pounds from $40,000 to $80,000 and allow the transferability of such credit; (2) allow an increased tax credit for alternative fuel vehicle refueling properties that dispense compressed natural gas, liquefied natural gas, or liquefied petroleum gas; and (3) allow such credit amounts against the regular and alternative minimum tax.
[Congressional Bills 111th Congress]
[From the U.S. Government Printing Office]
[H.R. 650 Introduced in House (IH)]
111th CONGRESS
1st Session
H. R. 650
To amend the Internal Revenue Code of 1986 to increase the credit
amount for new qualified alternative fuel motor vehicles weighing more
than 26,000 pounds and to increase the credit for certain alternative
fuel vehicle refueling properties, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 22, 2009
Mr. Kagen 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 the credit
amount for new qualified alternative fuel motor vehicles weighing more
than 26,000 pounds and to increase the credit for certain alternative
fuel vehicle refueling properties, 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. SHORT TITLE.
This Act may be cited as the ``Cleaner Trucks for America Act of
2009''.
SEC. 2. INCREASE IN ALTERNATIVE MOTOR VEHICLE CREDIT AMOUNT FOR NEW
QUALIFIED ALTERNATIVE FUEL MOTOR VEHICLES WEIGHING MORE
THAN 26,000 POUNDS.
(a) In General.--Subparagraph (D) of section 30B(e)(3) of the
Internal Revenue Code of 1986 is amended by striking ``$40,000'' and
inserting ``$80,000''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply to property placed in service after the date of the enactment of
this Act.
SEC. 3. INCREASE IN CREDIT FOR CERTAIN ALTERNATIVE FUEL VEHICLE
REFUELING PROPERTIES.
(a) In General.--Subsection (b) of section 30C of the Internal
Revenue Code of 1986 is amended by striking paragraphs (1) and (2) and
inserting the following:
``(1) except as provided in paragraph (2), $30,000 in the
case of a property of a character subject to an allowance for
depreciation,
``(2) in the case of a compressed natural gas, liquefied
natural gas, or liquefied petroleum gas property the aggregate
cost of which exceeds $100,000, the lesser of--
``(A) 30 percent of such cost, or
``(B) $100,000, and
``(3) $2,000 in any other case.''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply to property placed in service after the date of the enactment of
this Act.
SEC. 4. ALLOWANCE OF CREDITS AGAINST REGULAR AND MINIMUM TAX.
(a) Business Credits.--Subparagraph (B) of section 38(c)(4) of the
Internal Revenue Code of 1986 is amended by striking ``and'' at the end
of clause (vii), by striking the period at the end of clause (viii) and
inserting a comma, and by inserting after clause (viii) the following
new clauses:
``(ix) the portion of the credit determined
under section 30B which is attributable to the
application of subsection (e)(3)(D) thereof,
and
``(x) the portion of the credit determined
under section 30C which is attributable to
compressed natural gas, liquefied natural gas,
or liquefied petroleum gas property.''.
(b) Personal Credits.--
(1) New qualified alternative fuel motor vehicles weighing
more than 26,000 pounds.--Subsection (g) of section 30B of such
Code is amended by adding at the end the following new
paragraph:
``(3) Special rule relating to certain new qualified
alternative fuel motor vehicles.--In the case of the portion of
the credit determined under subsection (a) which is
attributable to the application of subsection (e)(3)(D)--
``(A) paragraph (2) shall (after the application of
paragraph (1)) be applied separately with respect to
such portion, and
``(B) in lieu of the limitation determined under
paragraph (2), such limitation shall not exceed the
excess (if any) of--
``(i) the sum of the regular tax liability
(as defined in section 26(b)) plus the
tentative minimum tax for the taxable year,
reduced by
``(ii) the sum of the credits allowable
under subpart A and sections 27 and 30.''.
(2) Alternative fuel vehicle refueling properties.--
Subsection (d) of section 30C of such Code is amended by adding
at the end the following new paragraph:
``(3) Special rule relating to certain alternative fuel
vehicle refueling properties.--In the case of the portion of
the credit determined under subsection (a) which is
attributable to compressed natural gas, liquefied natural gas,
or liquefied petroleum gas property--
``(A) paragraph (2) shall (after the application of
paragraph (1)) be applied separately with respect to
such portion, and
``(B) in lieu of the limitation determined under
paragraph (2), such limitation shall not exceed the
excess (if any) of--
``(i) the sum of the regular tax liability
(as defined in section 26(b)) plus the
tentative minimum tax for the taxable year,
reduced by
``(ii) the sum of the credits allowable
under subpart A and sections 27, 30, and the
portion of the credit determined under section
30B which is attributable to the application of
subsection (e)(3)(D) thereof.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years ending after the date of the enactment of this
Act.
SEC. 5. CREDIT RELATING TO NEW QUALIFIED ALTERNATIVE FUEL MOTOR
VEHICLES WEIGHING MORE THAN 26,000 POUNDS MAY BE
TRANSFERRED.
(a) In General.--Subsection (h) of section 30B is amended by adding
at the end the following new paragraph:
``(11) Transferability of credit.--Nothing in any law or
rule of law shall be construed to limit the transferability,
through sale and repurchase agreements, of the credit allowed
by reason of subsection (e)(3)(D).''.
(b) Effective Date.--The amendment made by this section shall apply
with respect to vehicles placed in service after the date of the
enactment of this Act.
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Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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