1.Short title; amendment of
1986 Code
(a)This Act may be cited
as the Efficient Vehicle Leadership
Act of 2009
.
(b)Except as otherwise
expressly provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision, the
reference shall be considered to be made to a section or other provision of the
Internal Revenue Code of 1986.
2.Tax credit for
fuel-efficient motor vehicles
(a)Subpart B of part IV
of subchapter A of chapter 1 (relating to other credits) is amended by
inserting after section 30D the following new section:
30E.
(a)
(1)There shall be allowed as a credit against the tax
imposed by this chapter for the taxable year an amount equal to the amount
determined under paragraph (2) with respect to any new qualified fuel-efficient
motor vehicle placed in service by the taxpayer during the taxable year.
(2)With respect to each new qualified fuel-efficient motor
vehicle, the amount determined under this paragraph shall be equal to the
product of—
(A)the absolute
value of the difference between the fuel-economy rating and the reference
fuel-economy rating for such motor vehicle for the model year, and
(B)100, and
(C)the applicable
amount.
(3)For purposes of paragraph (2)(C), the applicable amount is
equal to—
(A)in the case of
model year 2011—
(i)$1,000, or
(ii)$2,000, if the
fuel-economy rating for such motor vehicle is at least 50 percent more
efficient than the reference fuel-economy rating for such motor vehicle as
determined under paragraph (2)(A), and
(B)in the case of
any succeeding model year—
(i)$1,500, or
(ii)$2,500, if the
fuel-economy rating for such motor vehicle is at least 50 percent more
efficient than the reference fuel-economy rating for such motor vehicle as
determined under paragraph (2)(A), or
(iii)$3,500, if the
fuel-economy rating for such motor vehicle is at least 75 percent more
efficient than the reference fuel-economy rating for such motor vehicle as
determined under paragraph (2)(A).
(b)New qualified
fuel-Efficient motor vehicleFor purposes of this section, the
term new qualified fuel-efficient motor vehicle means a passenger
automobile or light truck—
(1)which is treated
as a motor vehicle for purposes of title II of the Clean Air Act,
(2)which achieves a
fuel-economy rating that is more efficient than the reference fuel-economy
rating for such motor vehicle for the model year,
(3)for which standards are prescribed pursuant
to section 32902 of title 49, United States Code,
(4)the original use
of which commences with the taxpayer,
(5)which is acquired
for use or lease by the taxpayer and not for resale,
(6)the purchase
price of which, less the amount allowable under subsection (a) with respect to
such vehicle, does not exceed $50,000, and
(7)which is made by
a manufacturer beginning with model year 2011.
(c)Application
with other credits
(1)Business credit
treated as part of general business creditSo 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)Refundable
personal credit
(A)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 C for such taxable
year (and not allowed under subsection (a)).
(B)Refundable
credit may be transferred
(i)A taxpayer may, in connection with the purchase of a new
qualified fuel-efficient motor vehicle, transfer any refundable credit
described in subparagraph (A) to any person who is in the trade or business of
selling new qualified fuel-efficient motor vehicles and who sold such vehicle
to the taxpayer, but only if such person clearly discloses to such taxpayer,
through the use of a window sticker attached to the new qualified
fuel-efficient vehicle—
(I)the amount of the
refundable credit described in subparagraph (A) with respect to such vehicle,
and
(II)a notification
that the taxpayer will not be eligible for any credit under section 30, 30B, or
30D with respect to such vehicle unless the taxpayer elects not to have this
section apply with respect to such vehicle.
(ii)A
transferee of a refundable credit described in subparagraph (A) may not claim
such credit unless such claim is accompanied by a certification to the
Secretary that the transferee reduced the price the taxpayer paid for the new
qualified fuel-efficient motor vehicle by the entire amount of such refundable
credit.
(iii)Consent
required for revocationAny transfer under clause (i) may be
revoked only with the consent of the Secretary.
(iv)The
Secretary may prescribe such regulations as necessary to ensure that any
refundable credit described in clause (i) is claimed once and not retransferred
by a transferee.
(d)For purposes of this section—
(1)The term fuel-economy rating means, with
respect to any motor vehicle, the combined fuel-economy rating for such motor
vehicle, expressed in gallons per mile, determined in accordance with section
32904 of title 49, United States Code.
(2)The term model year has the meaning given such
term under section 32901(a) of such title 49.
(3)The term motor vehicle means any vehicle
which is manufactured primarily for use on public streets, roads, and highways
(not including a vehicle operated exclusively on a rail or rails) and which has
at least 4 wheels.
(4)Reference
fuel-economy ratingThe term reference fuel-economy
rating means, with respect to any motor vehicle, the fuel economy
standard for such motor vehicle, expressed in gallons per mile, calculated by
applying the relevant vehicle attributes to the mathematical function published
pursuant to section 32902(b)(3)(A) of title 49, United States Code.
(5)The terms automobile, passenger
automobile, light truck, and manufacturer have
the meanings given such terms in regulations prescribed by the Administrator of
the Environmental Protection Agency for purposes of the administration of title
II of the Clean Air Act (42 U.S.C. 7521 et seq.).
(e)
(1)For purposes of this subtitle, the basis of any
property for which a credit is allowable under subsection (a) shall be reduced
by the amount of such credit so allowed (determined without regard to
subsection (c)).
(2)No other credit shall be allowable under this chapter for
a new qualified fuel-efficient motor vehicle with respect to which a credit is
allowed under this section.
(3)Property used
by tax-exempt entityIn the case of a vehicle whose use is
described in paragraph (3) or (4) of section 50(b) and which is not subject to
a lease, the person who sold such vehicle to the person or entity using such
vehicle shall be treated as the taxpayer that placed such vehicle in service,
but only if such person clearly discloses to such person or entity in a
document the amount of any credit allowable under subsection (a) with respect
to such vehicle (determined without regard to subsection (c)). For purposes of
subsection (c), property to which this paragraph applies shall be treated as of
a character subject to an allowance for depreciation.
(4)Property used
outside United States, etc., not qualifiedNo credit shall be
allowable under subsection (a) with respect to any property referred to in
section 50(b)(1) or with respect to the portion of the cost of any property
taken into account under section 179.
(5)The
Secretary shall, by regulations, provide for recapturing the benefit of any
credit allowable under subsection (a) with respect to any property which ceases
to be property eligible for such credit (including recapture in the case of a
lease period of less than the economic life of a vehicle).
(6)Election not to
take creditNo credit shall be allowed under subsection (a) for
any vehicle if the taxpayer elects to not have this section apply to such
vehicle.
(7)Interaction with
air quality and motor vehicle safety standardsA motor vehicle shall not be considered
eligible for a credit under this section unless such vehicle is in compliance
with—
(A)the applicable
provisions of the Clean Air Act for the applicable make and model year of the
vehicle (or applicable air quality provisions of State law in the case of a
State which has adopted such provisions under a waiver under section 209(b) of
the Clean Air Act), and
(B)the motor vehicle
safety provisions of sections 30101 through 30169 of title 49, United States
Code.
(8)In the case of any model year beginning in a calendar
year after 2010, each dollar amount in subsection (a)(3)(B) shall be increased
by an amount equal to—
(A)such dollar
amount, multiplied by
(B)the cost-of-living
adjustment determined under section 1(f)(3) for the calendar year in which the
model year begins, determined by substituting 2009
for
1992
in subparagraph (B) thereof.
Any
increase determined under the preceding sentence shall be rounded to the
nearest multiple of $100.(f)
(1)Except as provided in paragraph (2), the Secretary shall
promulgate such regulations as necessary to carry out the provisions of this
section.
(2)Coordination in
prescription of certain regulationsThe Secretary of the
Treasury, in coordination with the Secretary of Transportation and the
Administrator of the Environmental Protection Agency, shall prescribe such
regulations as necessary to determine whether a motor vehicle meets the
requirements to be eligible for a credit under this
section.
.
(b)Credit allowed
against alternative minimum tax
(1)Section 38(c)(4)(B) is amended by redesignating clauses
(i) through (viii) as clauses (ii) through (ix), respectively, and by inserting
before clause (ii) (as so redesignated) the following new clause:
(i)the credit
determined under section
30E,
.
(2)
(A)Section
24(b)(3)(B) is amended by striking and 30D
and inserting
30D, and 30E
.
(B)Section
25(e)(1)(C)(ii) is amended by inserting 30E,
after
30D,
.
(C)Section 25B(g)(2) is amended by striking
and 30D
and inserting 30D, and 30E
.
(D)Section 26(a)(1) is amended by striking
and 30D
and inserting 30D, and 30E
.
(E)Section 904(i) is
amended by striking and 30D
and inserting 30D, and
30E
.
(c)Section 32908(b)(1) of title 49, United States Code, is
amended—
(1)by redesignating
subparagraphs (E) and (F) as subparagraphs (F) and (G), nad
(2)by inserting
after subparagraph (D) the following new subparagraph:
(E)the amount of the
fuel-efficient motor vehicle credit allowable with respect to the sale of the
automobile under section 30E of the Internal Revenue Code of 1986 (26 U.S.C.
30E).
.
(d)
(1)Section 38(a) is
amended by striking plus
at the end of paragraph (34), by
striking the period at the end of paragraph (35) and inserting ,
plus
, and by adding at the end the following new paragraph:
(36)the portion of
the fuel performance rebate to which section 30E(c)(1)
applies.
.
(2)Section 1016(a)
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 in section
30E(e)(1).
.
(3)Section 6501(m)
is amended by inserting 30E(e)(6),
after
30D(e)(4),
.
(4)The table of
section for subpart C of part IV of subchapter A of chapter 1 is amended by
inserting after the item relating to section 30D the following new item:
Sec. 30E. Fuel performance
rebate.
.
(e)The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.
3.
(a)Section 4064 is amended to read as follows:
4064.
(a)
(1)There is hereby imposed on the sale by the manufacturer
of each fuel guzzler motor vehicle a tax equal to the product of—
(A)the absolute
value of the difference between the fuel-economy rating and the reference
fuel-economy rating for such motor vehicle for the model year, and
(B)100, and
(C)the applicable
amount.
(2)For purposes of paragraph (1)(C), the applicable amount is
equal to—
(A)$1,500, or
(B)$2,500, if the
fuel-economy rating for such motor vehicle is more than 50 percent less
efficient than the reference fuel-economy rating for such motor vehicle as
determined under paragraph (1)(A), or
(C)$3,500, if the
fuel-economy rating for such motor vehicle is more than 75 percent less
efficient than the reference fuel-economy rating for such motor vehicle as
determined under paragraph (1)(A).
(b)Fuel guzzler
motor vehicleFor purposes of this section—
(1)The term fuel guzzler motor vehicle means a
passenger automobile or light truck—
(A)which is treated
as a motor vehicle for purposes of title II of the Clean Air Act,
(B)which achieves a
fuel-economy rating that is less efficient than the reference fuel-economy
rating for such motor vehicle for the model year,
(C)which has a gross vehicle weight rating of
not more than 8,500 pounds, and
(D)which is made by
a manufacturer beginning with model year 2013.
(2)Exception for
emergency vehiclesThe term fuel guzzler motor
vehicle does not include any vehicle sold for use and used—
(A)as an ambulance
or combination ambulance-hearse,
(B)by the United
States or by a State or local government for police or other law enforcement
purposes, or
(C)for other
emergency uses prescribed by the Secretary by regulations.
(c)For purposes of this section—
(1)The term fuel-economy rating means, with
respect to any motor vehicle, the combined fuel-economy rating for such motor
vehicle, expressed in gallons per mile, determined in accordance with section
32904 of title 49, United States Code.
(2)The term model year has the meaning given such
term under section 32901(a) of such title 49.
(3)The term motor vehicle means any vehicle
which is manufactured primarily for use on public streets, roads, and highways
(not including a vehicle operated exclusively on a rail or rails) and which has
at least 4 wheels.
(4)Reference
fuel-economy ratingThe term reference fuel-economy
rating means, with respect to any motor vehicle, the fuel economy
standard for such motor vehicle, expressed in gallons per mile, calculated by
applying the relevant vehicle attributes to the mathematical function published
pursuant to section 32902(b)(3)(A) of title 49, United States Code.
(5)The terms automobile, passenger
automobile, light truck, and manufacturer have
the meanings given such terms in regulations prescribed by the Administrator of
the Environmental Protection Agency for purposes of the administration of title
II of the Clean Air Act (42 U.S.C. 7521 et seq.).
(d)In the case of any model year beginning in a calendar
year after 2010, each dollar amount in subsection (a)(2) shall be increased by
an amount equal to—
(1)such dollar
amount, multiplied by
(2)the
cost-of-living adjustment determined under section 1(f)(3) for the calendar
year in which the model year begins, determined by substituting
2009
for 1992
in subparagraph (B) thereof.
Any
increase determined under the preceding sentence shall be rounded to the
nearest multiple of
$100..
(b)
(1)The heading for
part I of subchapter A of chapter 32 is amended by striking
Gas
and inserting Fuel
.
(2)The table of
parts for subchapter A of chapter 32 is amended by striking Gas
in the item relating to part I and inserting Fuel
.
(3)The table of
sections for part I of subchapter A of chapter 32 is amended by striking
Gas
in the item relating to section 4064 and inserting
Fuel
.
(4)The heading for
subsection (d) of section 1016 is amended by striking gas guzzler tax
and
inserting fuel
performance fee
.
(5)The heading for
subsection (e) of section 4217 is amended by striking gas guzzler tax
and
inserting fuel
performance fee
.
(6)The heading for
subparagraph (B) of section 4217(e)(3) is amended by striking
gas guzzler
tax
and inserting fuel performance
fee
.
(7)Section 4217(e)
is amended by striking gas guzzler tax
each place it appears and
inserting fuel performance fee
.
(c)The amendments made by this section shall apply to sales of
vehicles beginning with model year 2013.