II 111th CONGRESS 1st Session S. 209 IN THE SENATE OF THE UNITED STATES January 12, 2009 Mrs. Boxer 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 modify and extend the credit for alternative motor vehicles, and for other purposes.

1.

Extension and modification of the alternative motor vehicle credit

(a)

Extension

Subsection (j) of section 30B of the Internal Revenue Code of 1986 (relating to termination) is amended— (1)by striking December 31, 2010 each place it appears in paragraphs (2) and (4) and inserting December 31, 2012, and (2)by striking December 31, 2009 in paragraph (3) and inserting December 31, 2012. (b)

Modification of credit amount

Paragraph (2) of section 30B(c) of the Internal Revenue Code of 1986 (relating to credit amount) is amended— (1)by striking $2,400 in the table contained in subparagraph (A)(i) and inserting $2,700, and (2)by striking $1,000 in the table contained in subparagraph (B) and inserting $1,300. (c)

Termination of limitation on number of vehicles eligible for credit

Section 30B of the Internal Revenue Code of 1986 is amended by striking subsection (f). (d)

Limitation on adjusted gross income of individuals claiming credit

Section 30B of the Internal Revenue Code of 1986, as amended by subsection (c), is amended by inserting after subsection (e) the following new subsection: (f)

Limitation based on adjusted gross income

In the case of an individual, no credit shall be allowed under this section for the taxable year if the taxpayer's adjusted gross income for the preceding taxable year exceeds $100,000 ($200,000 in the case of a joint return). . (e)

Effective date

The amendments made by this section shall apply to vehicles placed in service after December 31, 2008, in taxable years ending after such date.