[Congressional Record Volume 152, Number 24 (Wednesday, March 1, 2006)]
[Senate]
[Page S1581]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. GRASSLEY (for himself and Mr. Baucus):
  S. 2345. A bill to amend the Internal Revenue Code of 1986 to exempt 
passenger vehicles eligible for the alternative motor vehicle credit 
and the credit for qualified electric vehicles from the limitation on 
depreciation for luxury automobiles; to the Committee on Finance.
  Mr. GRASSLEY. Mr. President, I ask unanimous consent that the text of 
a bill I introduced today that may be cited as the ``America's Business 
Choice Act'' be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 2345

       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 ``America's Business Choice 
     Act''.

     SEC. 2. EXCEPTION FROM DEPRECIATION LIMITATION FOR CERTAIN 
                   ALTERNATIVE AND ELECTRIC PASSENGER AUTOMOBILES.

       (a) In General.--Paragraph (1) of section 280F(a) of the 
     Internal Revenue Code of 1986 (relating to limitation) is 
     amended by adding at the end the following new subparagraph:
       ``(D) Special rule for certain alternative motor vehicles 
     and qualified electric vehicles.--Subparagraph (A) shall not 
     apply to any motor vehicle for which a credit is allowable 
     under section 30 or 30B.''.
       (b) Conforming Amendment.--Subparagraph (C) of section 
     280F(a)(1) of the Internal Revenue Code of 1986 is amended by 
     striking clause (ii) and by redesignating clause (iii) as 
     clause (ii).
       (c) Effective Date.--The amendments made by this section 
     shall apply to property placed in service after the date of 
     the enactment of this Act.
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