H.R. 1356 · 108th Congress
To encourage the availability and use of motor vehicles that have improved fuel efficiency, in order to…
Full title
To encourage the availability and use of motor vehicles that have improved fuel efficiency, in order to reduce the need to import oil into the United States.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
EngelSponsorNo cosponsors.
Amends the Internal Revenue Code to allow a taxpayer as credits against income tax: (1) a fuel efficiency vehicle credit equal to 25 percent of the cost of any qualified fuel-efficient vehicle placed in service during the taxable year; and (2) a fuel-efficient vehicle assembly credit equal to $2,000 for every qualified fuel-efficient vehicle manufactured or…
What it does: CRS summary · Introduced in House · Mar 19, 2003
Amends the Internal Revenue Code to allow a taxpayer as credits against income tax: (1) a fuel efficiency vehicle credit equal to 25 percent of the cost of any qualified fuel-efficient vehicle placed in service during the taxable year; and (2) a fuel-efficient vehicle assembly credit equal to $2,000 for every qualified fuel-efficient vehicle manufactured or produced in the United States during such year for first retail sale.
Authorizes the Secretary of Energy to provide loan guarantees of up to $100 million per loan (and up to $1 billion over all) to manufacturers of motor vehicles or of motor vehicle engines for the costs of conversion from the manufacture of motor vehicles or engines achieving less than 40 miles per gallon of gasoline to the manufacture of such products achieving more than 40 miles per gallon
Amends the Internal Revenue Code to: (1) extend permanently the credit for increasing research activities; and (2) increase the alternative incremental credit rates.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To encourage the availability and use of motor vehicles that have improved fuel efficiency, in order to reduce the need to import oil into the United States.
Latest action (Apr 10, 2003): Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
Policy area: Taxation · Origin: House · Introduced: Mar 19, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.