110 HR 2966 IH: Plug-in Hybrid Opportunity Act of U.S. House of Representatives 2007-07-10 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 2966 IN THE HOUSE OF REPRESENTATIVES July 10, 2007 Mr. Markey (for himself, Mr. Moran of Virginia, Mr. Blumenauer, and Mr. Inslee) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to provide a credit for the conversion of hybrid motor vehicles to plug-in hybrid motor vehicles.

1.

Short title

This Act may be cited as the Plug-in Hybrid Opportunity Act of 2007.

2.

Credit for conversion of hybrid motor vehicles to plug-in hybrid motor vehicles

(a)

In general

Subsection (a) of section 30B of the Internal Revenue Code of 1986 (relating to the alternative motor vehicle credit) is amended by striking and at the end of paragraph (3), by striking the period at the end of paragraph (4) and inserting , and, and by adding at the end the following new paragraph: (5)the plug-in battery module conversion credit determined under subsection (f). . (b)

Plug-in battery module conversion credit

Section 30B of such Code is amended by redesignating subsections (f) through (j) as subsections (g) through (k), respectively, and by inserting after subsection (e) the following new subsection: (f)

Plug-in battery module conversion credit

(1)

In general

For purposes of subsection (a), the plug-in battery module conversion credit determined under this subsection with respect to any qualified plug-in battery module placed in service by the taxpayer during the taxable year is 35 percent of the cost of such module (including reasonable labor costs for installation). (2)

Limitation

The amount of the credit allowed under this subsection shall not exceed $4,000 with respect to any qualified plug-in battery module. (3)

Definitions and special rules

For purposes of this subsection— (A)

Qualified plug-in battery module

The term qualified plug-in battery module means any plug-in battery module— (i)the original use of which commences with the taxpayer, (ii)which is acquired for use or lease by the taxpayer and not for resale, and (iii)which is installed in a new qualified hybrid motor vehicle (as defined in subsection (d), determined without regard to subparagraph (A)(v) thereof) of the taxpayer, but only if such vehicle was not equipped with a plug-in battery module at any time prior to such installation. (B)

Plug-in battery module

The term plug-in battery module means, with respect to any new qualified hybrid motor vehicle, an electro-chemical storage device of a standardized, mass-produced design of a battery manufacturer, which— (i)has a traction battery capacity of not less than 2.5 kilowatt hours, (ii)can be energized and recharged by plugging into an external 120 volt source of electric power, (iii)has been tested, as installed in a new qualified hybrid motor vehicle of the same make and model year, by the National Highway Transportation Safety Administration, and determined by such Administration to be in compliance with motor vehicle and motor vehicle equipment safety standards applicable to that make and model year vehicle when installed in such motor vehicle by a mechanic with standardized training in protocols established by the battery manufacturer as part of a nationwide distribution program, (iv)has been tested, as installed in a new qualified hybrid motor vehicle of the same make and model year, by a testing laboratory approved the Environmental Protection Agency, and such testing confirmed no effect on compliance with the emission standards applicable to such vehicle, and (v)is certified by a battery manufacturer as meeting the requirements of clauses (i) through (iv). . (c)

No recapture for vehicles converted to qualified conversion hybrid vehicles

Paragraph (8) of section 30B(i) of such Code, as redesignated by this section, is amended by adding at the end the following: “For purposes of the preceding sentence, a new qualified hybrid motor vehicle shall not be treated as ceasing to be eligible for the credit allowable under subsection (a) solely by reason of the installation of a qualified plug-in battery module described in subsection (f).”. (d)

Termination

Subsection (k) of section 30A of such Code, as redesignated by this section, is amended by striking and at the end of paragraph (3), by striking the period at the end of paragraph (4) and inserting , and, and by adding at the end the following new paragraph: (5)in the case of a qualified plug-in battery module (as described in subsection (f)), December 31, 2010. . (e)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2007.