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S. 795 · 108th Congress

Tax Incentives for Fuel Efficient Vehicles Act of 2003

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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.

No cosponsors.

Tax Incentives for Fuel Efficient Vehicles Act of 2003 - Amends the Internal Revenue Code with respect to the (automotive) gas guzzler manufacturer excise tax to: (1) increase the weight of a covered automobile to12,000 pounds; (2) revise the excise tax table, including the addition of a model-year calculation criteria; (3) revise the exception to such…

What it does: CRS summary · Introduced in Senate · Apr 7, 2003
Tax Incentives for Fuel Efficient Vehicles Act of 2003 - Amends the Internal Revenue Code with respect to the (automotive) gas guzzler manufacturer excise tax to: (1) increase the weight of a covered automobile to12,000 pounds; (2) revise the excise tax table, including the addition of a model-year calculation criteria; (3) revise the exception to such coverage, including elimination of the exception based upon nonpassenger treatment under specified Department of Transportation rules; and (4) apply such provisions to sales after October 31, 2005.

Establishes a highly fuel-efficient automobile credit for taxpayer purchases of a new passenger or nonpassenger automobile (as defined by this Act) that exceeds specified fuel economy ratings. Applies such credit to vehicles placed in service after October 31, 2005.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Tax Incentives for Fuel Efficient Vehicles Act of 2003

Latest action (Apr 7, 2003): Read twice and referred to the Committee on Finance.

Policy area: Taxation · Origin: Senate · Introduced: Apr 7, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.