[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 4685 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 4685

To amend the Internal Revenue Code of 1986 to establish the truck fleet 
retreaded tire tax credit, to require Federal agencies to consider the 
            use of retreaded tires, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                July 11 (legislative day, July 10), 2024

   Mr. Brown introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to establish the truck fleet 
retreaded tire tax credit, to require Federal agencies to consider the 
            use of retreaded tires, and for other purposes.

    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 ``Retreaded Truck Tire Jobs, Supply 
Chain Security and Sustainability Act of 2024''.

SEC. 2. CREDIT FOR CERTAIN RETREADED TIRES.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by adding at the end of 
subpart D the following new section:

``SEC. 45BB. TRUCK FLEET RETREADED TIRE TAX CREDIT.

    ``(a) In General.--For purposes of section 38, the truck fleet 
retreaded tire tax credit for any taxable year is an amount equal to 
the sum of the credit amounts determined under subsection (b) with 
respect to each qualified retreaded tire placed in service on a 
qualified truck fleet vehicle during the taxable year.
    ``(b) Per Tire Amount.--There shall be a credit equal to the lesser 
of--
            ``(1) 30 percent of the basis of each qualified retreaded 
        tire, or
            ``(2) so much of the amount paid or incurred by the 
        taxpayer during the taxable year to purchase qualified 
        retreaded tires as does not exceed $30 per qualified retreaded 
        tire.
    ``(c) Qualified Retreaded Tire.--The term `qualified retreaded 
tire' means a retreaded truck tire--
            ``(1) retreaded in the United States, and
            ``(2) purchased by the taxpayer in the United States.
    ``(d) Qualified Truck Fleet Vehicle.--For purposes of this section, 
the term `qualified truck fleet vehicle' means any vehicle which has a 
gross vehicle weight rating of greater than 14,000 pounds.
    ``(e) Regulations and Guidance.--The Secretary shall issue such 
regulations and guidance as the Secretary determines necessary to carry 
out the purposes of this section.
    ``(f) Termination.--No credit shall be determined under this 
section with respect to qualified retreaded tires placed in service 
after December 31, 2027.''.
    (b) Credit Allowed as Part of General Business Credit.--Section 
38(b) of such Code is amended by striking ``plus'' at the end of 
paragraph (40), by striking the period at the end of paragraph (41), 
and by adding at the end the following new paragraph:
            ``(42) the truck fleet retreaded tire tax credit determined 
        under section 45BB.''.
    (c) Clerical Amendment.--The table of sections for subpart D of 
part IV of subchapter A of chapter 1 of such Code is amended by adding 
at the end the following new item:

``Sec. 45BB. Truck fleet retreaded tire tax credit.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to tires placed in service after December 31, 2024.

SEC. 3. USE OF RETREADED TIRES FOR FEDERAL FLEETS.

    (a) Requirement.--In any case in which a retreaded tire is 
available on the General Services Administration tire schedule in the 
size, load range, and tread designation desired, the head of an agency 
shall order such tire instead of a new, not retread-able tire.
    (b) FAR Revision.--Not later than 1 year after the date of the 
enactment of this Act, the Federal Acquisition Regulatory Council shall 
amend the Federal Acquisition Regulation to include the requirements of 
this section.
    (c) Agency Defined.--The term ``agency'' has the meaning given the 
term ``executive agency'' in section 133 of title 41, United States 
Code.
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