1.Short title; table of
contents
(a)This Act may be cited
as the Charging America Forward
Act
.
(b)The table of
contents of this Act is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Extension and modification of new qualified hybrid
motor vehicle credit.
Sec. 3. Extension of alternative fuel vehicle refueling
property credit.
Sec. 4. Transferability of credit for new qualified plug-in
electric drive motor vehicles.
Sec. 5. Recovery period for depreciation of smart meters and
smart grid systems.
Sec. 6. Energy investment credits for certain used energy
storage property.
Sec. 7. Nonbusiness energy property credit for certain
residential energy storage property.
2.Extension and
modification of new qualified hybrid motor vehicle credit
(a)Paragraph
(3) of section 30B(k) of the Internal Revenue Code of 1986 is amended by
striking December 31, 2009
and inserting December 31,
2014
.
(b)Qualified
incremental hybrid costClause (iii) of section 30B(d)(2)(B) of
the Internal Revenue Code of 1986 is amended by striking does not
exceed—
and all that follows and inserting the following: “does not
exceed—
(I)$15,000, if such
vehicle has a gross vehicle weight rating of not more than 14,000
pounds;
(II)$30,000, if such
vehicle has a gross vehicle weight rating of more than 14,000 pounds but not
more than 26,000 pounds;
(III)$60,000, if
such vehicle has a gross vehicle weight rating of more than 26,000 pounds but
not more than 33,000 pounds; and
(IV)$100,000, if
such vehicle has a gross vehicle weight rating more than 33,000
pounds.
.
(c)Applicable
percentage for heavy trucks achieving 20 percent increase in city fuel
economyClause (ii) of section 30B(d)(2)(B) of the Internal
Revenue Code of 1986 is amended by redesignating subclauses (I), (II), and
(III) as subclauses (II), (III), and (IV), respectively, and by inserting
before subclause (II) (as so redesignated) the following new subclause:
(I)10 percent in the
case of a vehicle to which clause (iii)(IV) applies if such vehicle achieves an
increase in city fuel economy relative to a comparable vehicle of at least 20
percent but less than 30
percent.
.
(d)Subparagraph (B) of section 30B(d)(2) of the Internal
Revenue Code of 1986 is amended by adding at the end the following new
clause:
(vi)The
amount allowed as a credit under subsection (a)(3) with respect to a vehicle by
reason of clause (i) of this subparagraph shall not exceed
$24,000.
.
(e)Paragraph (3) of section 30B(d) of the Internal Revenue
Code of 1986 is amended by redesignating subparagraphs (B), (C), and (D) as
subparagraphs (C), (D), and (E), respectively, and by inserting after
subparagraph (A) the following new subparagraphs:
(B)In the case of a vehicle with a gross vehicle weight
rating of not less than 8,500 pounds, the term new qualified hybrid motor
vehicle includes a motor vehicle—
(i)which draws
propulsion energy exclusively from a rechargeable energy storage system;
and
(ii)which meets the
requirements of clauses (iii), (v), (vi), and (vii) of subparagraph
(A).
.
(f)Credits may be
transferredSubsection (d) of section 30B of the Internal Revenue
Code of 1986 is amended by adding at the end the following new
paragraph:
(4)Transferability
of credit
(A)A taxpayer who places in service any vehicle may transfer
the credit allowed under this subsection with respect to such vehicle through
an assignment to the seller of such vehicle. Such transfer may be revoked only
with the consent of the Secretary.
(B)The
Secretary shall prescribe such regulations as necessary to ensure that any
credit transferred under subparagraph (A) is claimed once and not reassigned by
such other
person.
.
(g)The amendments made by this section shall apply to vehicles
acquired after December 31, 2009.
3.Extension of
alternative fuel vehicle refueling property credit
(a)Subsection (g) of section 30C of the Internal Revenue
Code of 1986 is amended by striking placed in service—
and all
that follows and inserting placed in service after December 31,
2014
.
(b)
(1)Subsection (a) of section 30C of the Internal Revenue
Code of 1986 is amended by striking 30 percent
and inserting
50 percent
.
(2)Subsection (b) of section 30C of such Code is
amended—
(A)by striking
$30,000
in paragraph (1) and inserting
$50,000
,
(B)by striking
depreciation, and
in paragraph (1) and inserting
depreciation which is not described in paragraph (2),
,
(C)by redesignating
paragraph (2) as paragraph (3),
(D)by inserting
after paragraph (1) the following new paragraph:
(2)the greater
of—
(A)$50,000,
or
(B)$10,000 for each
single charging device designed to recharge a motor vehicle propelled by
electricity,
in the
case of any property relating to electricity,
and,
and
(E)by striking
$1,000
in paragraph (3), as redesignated by subparagraph (C),
and inserting $2,000
.
(3)Subparagraph (A) of section 30C(e)(6) of such Code is
amended by inserting and which is placed in service before the date of
the enactment of paragraph (7)
after hydrogen
.
(c)Treatment of
personal credit
(1)Paragraph (2) of section 30C(d) of the Internal Revenue
Code of 1986 is amended to read as follows:
(2)
(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 A for such taxable
year.
(B)Limitation based
on amount of taxIn 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 25D and
30D) and section 27 for the taxable
year.
.
(2)Clause (ii) of section 30D(c)(2)(B) is amended by
striking section 25D
and inserting sections 25D and
30C
.
(d)Treatment of
property used by tax-Exempt entityParagraph (2) of section
30C(e) of the Internal Revenue Code of 1986 is amended by striking the last
sentence.
(e)Joint ownership
of electric vehicle recharging propertySubsection (e) of section
30C of the Internal Revenue Code of 1986 is amended by adding at the end the
following new paragraph:
(7)Joint ownership
of electric vehicle recharging property
(A)Any property relating to electricity shall not fail to be
treated as qualified alternative fuel vehicle refueling property solely because
such property is placed in service with respect to 2 or more dwelling
units.
(B)Limits applied
separatelyIn the case of any qualified alternative fuel vehicle
refueling property relating to electricity which is placed in service with
respect to 2 or more dwelling units, this section (other than this
subparagraph) shall be applied separately with respect to the portion of such
property attributable to each such dwelling
unit.
.
(f)Definition of
alternative fuel vehicle refueling property in the case of electricity
(1)Subparagraph (B) of section 179A(d)(3) of the Internal
Revenue Code of 1986 is amended to read as follows:
(B)for the
recharging of motor vehicles propelled by electricity, including electrical
panel upgrades, wiring, conduit, trenching, pedestals, and related
equipment.
.
(2)Subsection (d) of section 179A of such Code is amended
by inserting , except for property described in paragraph
(3)(B),
after not including a building and
.
(g)The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.
4.Transferability
of credit for new qualified plug-in electric drive motor vehicles
(a)Subsection (c) of section 30D of the Internal Revenue
Code of 1986 is amended by adding at the end the following new
paragraph:
(3)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) and without regard to paragraph (2)(B)) shall be treated as a credit
allowable under subpart C for such taxable year (and not allowed under
subsection (a)), and paragraph (2) shall not apply to such credit.
(B)Refundable
credit may be transferred
(i)A taxpayer may, in connection with the purchase of a new
qualified plug-in electric drive motor vehicle, transfer any refundable credit
described in subparagraph (A)—
(I)to any person who
is in the trade or business of selling new qualified plug-in electric drive
motor vehicles and who sold such vehicle to the taxpayer, or
(II)to any person
who is in the trade or business of financing the sales of new qualified plug-in
electric drive motor vehicles and who financed the taxpayer's purchase of such
vehicle.
(ii)A
taxpayer may transfer a refundable credit described in subparagraph (A) to a
person described in clause (i)(I) only if such person clearly discloses to such
taxpayer, through the use of a window sticker attached to the new qualified
plug-in electric drive motor 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 any other section
of this title with respect to such vehicle unless the taxpayer elects not to
have this section apply with respect to such vehicle.
(iii)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 or the
balance due to the financier, whichever is applicable, for the new qualified
plug-in electric drive motor vehicle by the entire amount of such refundable
credit.
(iv)Consent
required for revocationAny transfer under clause (i) may be
revoked only with the consent of the Secretary.
(v)The
Secretary may prescribe such regulations as necessary—
(I)to ensure that
any refundable credit described in clause (i) is claimed once and not
retransferred by a transferee, and
(II)to provide a
mechanism by which the transferee may claim and receive the credit within 3
months of the sale of the new qualified plug-in electric drive motor
vehicle.
.
(b)Display of
credit informationSection 32908(b)(1) of title 49, United States
Code, is amended—
(1)by redesignating
subparagraphs (E) and (F) as subparagraphs (F) and (G), and
(2)by inserting
after subparagraph (D) the following new subparagraph:
(E)the amount of the
new qualified plug-in electric drive motor vehicle credit allowable with
respect to the sale of the automobile under section 30D of the Internal Revenue
Code of 1986 (26 U.S.C.
30D).
.
(c)The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.
5.Recovery period
for depreciation of smart meters and smart grid systems
(a)Subparagraph (B) of section 168(e)(3) of the Internal
Revenue Code of 1986 is amended by striking and
at the end of
clause (vi), by striking the period at the end of clause (vii) and inserting
, and
, and by adding at the end the following new
clauses:
(viii)any qualified
smart electric meter, and
(ix)any qualified
smart electric grid
system.
.
(b)Subparagraph (D) of section 168(e)(3) of the Internal
Revenue Code of 1986 is amended by inserting and
at the end of
clause (i), by striking the comma at the end of clause (ii) and inserting a
period, and by striking clauses (iii) and (iv).
(c)The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.
6.Energy
investment credits for certain used energy storage property
(a)50 percent
credit allowedSubparagraph (A) of section 48(a)(2) of the
Internal Revenue Code of 1986 is amended—
(1)by redesignating
clause (ii) as clause (iii),
(2)by inserting
or (ii)
after clause (i)
in clause (iii), as so
redesignated, and
(3)by inserting
after clause (i) the following new clause:
(ii)50 percent in
the case of qualified used energy storage property which is not described in
subsection (c)(5)(B),
and
.
(b)30 percent
credit for certain energy storage property used for onsite
storageClause (i) of section 48(a)(2)(A) of the Internal Revenue
Code of 1986 is amended—
(1)by striking
and
at the end of subclause (III), and
(2)by adding at the
end the following new subclause:
(V)qualified used
energy storage property described in subsection
(c)(5)(B),
.
(c)Qualified used
energy storage propertySubsection (c) of section 48 of the
Internal Revenue Code of 1986 is amended by adding at the end the following new
paragraph:
(5)Qualified used
energy storage propertyThe term qualified used energy
storage property means pre-owned advanced large format automotive
propulsion battery cells previously used in a qualified plug-in electric drive
motor vehicle (as defined in section 30D(d)) which are reconditioned
into—
(A)property—
(i)which is designed
to receive electrical energy, to store such energy, to convert such energy to
electricity, and to deliver such electricity for support to the transmission or
distribution grid or for sale to unrelated parties,
(ii)which has the
ability to store in the aggregate not less than 50 kilowatt hours of
energy,
(iii)which has the
ability to attain a peak power output of 20 kilowatts, or
(B)property—
(i)which—
(I)is primarily
designed and used to receive and store intermittent renewable energy generated
on-site and to deliver such energy for primarily on-site consumption, or
(II)provides
supplemental energy to reduce peak energy requirements on-site,
(ii)which has the
ability to store the energy equivalent of not less than 20 kilowatt hours of
energy, and
(iii)which has the
ability to maintain an output of the energy equivalent of not less than 5
kilowatt hours of electricity for a period of not less than 4 hours.
Such
term may include property described in subparagraph (B) which is used to charge
plug-in or hybrid electric vehicles if such vehicles are equipped with smart
grid services which control time-of-day charging and discharging of such
vehicles, but shall not include any property for which any other credit is
allowed under this
chapter..
(d)The amendments made by this section shall apply to periods
after the date of the enactment of this Act, under rules similar to the rules
of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day
before the date of the enactment of the Revenue Reconciliation Act of
1990).
7.Nonbusiness
energy property credit for certain residential energy storage property
(a)
(1)Subsection (a) of section 25C of the Internal Revenue
Code of 1986 is amended—
(A)by striking
and
at the end of paragraph (1),
(B)by striking
expenditures paid or incurred
and all that follows in paragraph
(2) and inserting expenditures, other than expenditures for qualified
used energy storage property described in subsection (d)(7), paid or incurred
by the taxpayer during such taxable year, and
, and
(C)by adding at the
end the following new paragraph:
(3)50 percent of the
amount of the residential energy property expenditures for qualified used
energy storage property described in subsection (d)(7) paid or incurred by the
taxpayer during such taxable
year.
.
(2)Qualified
energy propertySubparagraph (A) of section 25C(d)(2) of such
Code is amended—
(A)by striking
or
at the end of clause (ii),
(B)by striking the
period at the end of clause (iii) and inserting , or
, and
(C)by adding at the
end the following new clause:
(iv)qualified used
energy storage
property.
.
(b)Subsection (d) of section 25C of the Internal Revenue
Code of 1986 is amended by adding at the end the following new
paragraph:
(7)Qualified used
energy storage propertyThe term qualified used energy
storage property means property which is comprised of reconditioned
pre-owned advanced large format automotive propulsion battery cells previously
used in a qualified plug-in electric drive motor vehicle (as defined in section
30D(d)) and which—
(A)is primarily
designed and used to receive and store intermittent renewable energy generated
on-site and to deliver such energy for primarily on-site consumption,
(B)provides
supplemental energy to reduce peak energy requirements on-site, or
(C)provides
propulsion power for non-highway mobile applications for neighborhood or
interior use.
Such term
may include property described in subparagraph (B) which is used to charge
plug-in or hybrid electric vehicles if such vehicles are equipped with smart
grid services which control time-of-day charging and discharging of such
vehicles, but shall not include any property for which any other credit is
allowed under this
chapter..
(c)The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.