[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 2345 Introduced in Senate (IS)]








109th CONGRESS
  2d Session
                                S. 2345

To amend the Internal Revenue Code of 1986 to exempt passenger vehicles 
 eligible for the alternative motor vehicle credit and the credit for 
  qualified electric vehicles from the limitation on depreciation for 
                          luxury automobiles.


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                   IN THE SENATE OF THE UNITED STATES

                             March 1, 2006

  Mr. Grassley (for himself and Mr. Baucus) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to exempt passenger vehicles 
 eligible for the alternative motor vehicle credit and the credit for 
  qualified electric vehicles from the limitation on depreciation for 
                          luxury automobiles.

    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 ``America's Business Choice Act''.

SEC. 2. EXCEPTION FROM DEPRECIATION LIMITATION FOR CERTAIN ALTERNATIVE 
              AND ELECTRIC PASSENGER AUTOMOBILES.

    (a) In General.--Paragraph (1) of section 280F(a) of the Internal 
Revenue Code of 1986 (relating to limitation) is amended by adding at 
the end the following new subparagraph:
                    ``(D) Special rule for certain alternative motor 
                vehicles and qualified electric vehicles.--Subparagraph 
                (A) shall not apply to any motor vehicle for which a 
                credit is allowable under section 30 or 30B.''.
    (b) Conforming Amendment.--Subparagraph (C) of section 280F(a)(1) 
of the Internal Revenue Code of 1986 is amended by striking clause (ii) 
and by redesignating clause (iii) as clause (ii).
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.
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