[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 550 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 550

  To amend the Internal Revenue Code of 1986 to allow individuals and 
 businesses a temporary credit against income tax for the purchase of 
                           certain vehicles.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 15, 2009

Mr. Manzullo (for himself and Mr. Upton) 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 allow individuals and 
 businesses a temporary credit against income tax for the purchase of 
                           certain vehicles.

    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 ``Get America Moving Again Act of 
2009''.

SEC. 2. TEMPORARY CREDIT FOR PURCHASE OF PASSENGER VEHICLES.

    (a) In General.--Subpart B of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after 
section 30D the following new section:

``SEC. 30E. TEMPORARY CREDIT FOR PURCHASE OF PASSENGER VEHICLES.

    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this chapter for the taxable year an amount 
equal to the purchase price of any qualified passenger vehicle placed 
in service by the taxpayer during the taxable year.
    ``(b) Maximum Credit.--
            ``(1) New vehicles.--In the case of each qualified 
        passenger vehicle the original use of which begins with the 
        taxpayer, the credit allowed by subsection (a) shall not 
        exceed--
                    ``(A) $5,000 in the case of a vehicle placed in 
                service before January 1, 2010, and
                    ``(B) $2,500 in the case of a vehicle placed in 
                service during 2010.
            ``(2) Used vehicles.--In the case of each qualified 
        passenger vehicle the original use of which does not begin with 
        the taxpayer, the credit allowed by subsection (a) shall not 
        exceed--
                    ``(A) $2,000 in the case of a vehicle placed in 
                service before January 1, 2010, and
                    ``(B) $1,000 in the case of a vehicle placed in 
                service during 2010.
    ``(c) Limitation Based on Adjusted Gross Income.--
            ``(1) In general.--In the case of a natural person, the 
        amount allowable as credit under this section (without regard 
        to this subsection) for any taxable year shall be reduced (but 
        not below zero) by the amount which bears the same ratio to the 
        amount so allowable as--
                    ``(A) the excess (if any) of--
                            ``(i) the taxpayer's modified adjusted 
                        gross income for such taxable year, over
                            ``(ii) $125,000 ($250,000 in the case of a 
                        joint return), bears to
                    ``(B) $10,000.
            ``(2) Modified adjusted gross income.--For purposes of 
        paragraph (1), the term `modified adjusted gross income' means 
        the adjusted gross income of the taxpayer for the taxable year 
        increased by any amount excluded from gross income under 
        section 911, 931, or 933.
    ``(d) Qualified Passenger Vehicle.--For purposes of this section--
            ``(1) In general.--The term `qualified passenger vehicle' 
        means any motor vehicle (as defined by section 30(c)(2)) if--
                    ``(A) the model year of such vehicle is (at the 
                time such vehicle is placed in service by the taxpayer) 
                not more than 3 years earlier than the most recent 
                model year of such vehicle which is available for 
                purchase,
                    ``(B) such vehicle is acquired for use by the 
                taxpayer and not for resale,
                    ``(C) the amount paid by the taxpayer for such 
                vehicle does not exceed $50,000, and
                    ``(D) such vehicle has a gross vehicle weight 
                rating of not more than 8,500 pounds.
            ``(2) Determination of price.--Rules similar to the rules 
        of sections 4002(d) and 4003(c) shall apply.
    ``(e) Application With Other Credits.--
            ``(1) Business credit treated as part of general business 
        credit.--So much of the credit which would be allowed under 
        subsection (a) for any taxable year (determined without regard 
        to this subsection) that is attributable to property of a 
        character subject to an allowance for depreciation shall be 
        treated as a credit listed in section 38(b) for such taxable 
        year (and not allowed under subsection (a)).
            ``(2) Personal credit.--
                    ``(A) In general.--For purposes of this title, the 
                credit allowed under subsection (a) for any taxable 
                year (determined after application of paragraph (1)) 
                shall be treated as a credit allowable under subpart A 
                for such taxable year.
                    ``(B) Limitation based on amount of tax .--In the 
                case of a taxable year to which section 26(a)(2) does 
                not apply, the credit allowed under subsection (a) for 
                any taxable year (determined after application of 
                paragraph (1)) shall not exceed the excess of--
                            ``(i) the sum of the regular tax liability 
                        (as defined in section 26(b)) plus the tax 
                        imposed by section 55, over
                            ``(ii) the sum of the credits allowable 
                        under subpart A (other than this section and 
                        sections 23, 25D, and 30D) and section 27 for 
                        the taxable year.
    ``(f) Special Rules.--For purposes of this section--
            ``(1) Basis reduction.--The basis of any property for which 
        is credit is allowed under this section shall be reduced by the 
        amount of such credit.
            ``(2) Property used outside united states, etc., not 
        qualified.--No credit shall be allowed under subsection (a) 
        with respect to any property referred to in section 50(b) or 
        with respect to the portion of the cost of any property taken 
        into account under section 179.
    ``(g) Application of Section.--This section shall apply to vehicles 
placed in service after the date of the enactment of this section and 
before January 1, 2011.''.
    (b) Conforming Amendments.--
            (1) Paragraph (1) of section 26(a) of such Code is amended 
        by striking ``and 30D'' and inserting ``30D, and 30E''.
            (2) Subsection (a) of section 1016 of such Code is amended 
        by striking ``and'' at the end of paragraph (36), by striking 
        the period at the end of paragraph (37) and inserting ``, 
        and'', and by adding at the end the following new paragraph:
            ``(38) to the extent provided by section 30E(f)(1).''.
            (3) The table of sections for subpart B of part IV of 
        subchapter A of chapter 1 of such Code is amended by inserting 
        after the item relating to section 30D the following new item:

``Sec. 30E. Temporary credit for purchase of passenger vehicles.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after the date of the enactment of this 
Act.
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