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H.R. 3301 · 109th Congress

To amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with…

Full title

To amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with new diesel engine technologies, and for other purposes.

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

Amends the Internal Revenue Code to allow an investment tax credit for five percent of the cost of a qualified truck.

What it does: CRS summary · Introduced in House · Jul 14, 2005

Amends the Internal Revenue Code to allow an investment tax credit for five percent of the cost of a qualified truck. Defines "qualified truck" as a motor vehicle: (1) first placed in service on or after January 1, 2007, and before January 1, 2008; (2) powered by diesel fuel; (3) having a gross vehicle weight of more than 26,000 pounds; and (4) which complies with certain Environmental Protection Agency (EPA) regulations for diesel emissions. Allows such credit to reduce regular or alternative minimum tax liability.

Permits a taxpayer election to expense the cost of qualified trucks placed in service in 2007.

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

About this bill and sources

Official title: To amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with new diesel engine technologies, and for other purposes.

Latest action (Jul 14, 2005): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Jul 14, 2005

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

No recorded floor vote found.