[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2505 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2505

 To amend the Internal Revenue Code of 1986 to increase and extend the 
       vehicle refueling property credit, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 24, 2007

 Mr. Donnelly introduced the following bill; which was referred to the 
 Committee on Ways and Means, and in addition to the Committee on the 
 Judiciary, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase and extend the 
       vehicle refueling property credit, 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 ``Promoting the Use of Mixed Petroleum 
Act'' or the ``E-85 PUMP Act''.

SEC. 2. MODIFICATIONS TO VEHICLE REFUELING PROPERTY CREDIT.

    (a) Increase in Credit Percentage.--Subsection (a) of section 30C 
of the Internal Revenue Code of 1986 (relating to alternative fuel 
vehicle refueling property credit allowed) is amended by striking ``30 
percent'' and inserting ``50 percent''.
    (b) Increase in Credit Limitation.--Paragraph (1) of section 30C(b) 
of such Code (relating to limitation) is amended by striking 
``$30,000'' and inserting ``$50,000''.
    (c) Extension of Credit.--Paragraph (2) of section 30C(g) of such 
Code (relating to termination) is amended by striking ``2009'' and 
inserting ``2014''.
    (d) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.

SEC. 3. APPLICATION OF GASOHOL COMPETITION ACT OF 1980.

    Section 26 of the Clayton Act (15 U.S.C. 26a) is amended--
            (1) by redesignating subsection (c) as subsection (d); and
            (2) by inserting after subsection (b) the following:
    ``(c) Restriction Prohibited.--For purposes of subsection (a), 
restricting the right of a franchisee to install on the premises of 
that franchisee qualified alternative fuel vehicle refueling property 
(as defined in section 30C(c) of the Internal Revenue Code of 1986) 
shall be considered an unlawful restriction.''.
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