Home > 107th Congressional Bills > H.R. 1055 (ih) To amend the Federal Deposit Insurance Act and the Truth in Lending Act to prohibit federally insured institutions from engaging in high-cost payday loans, to expand protections for consumers in connection with the making of such loans by u...

H.R. 1055 (ih) To amend the Federal Deposit Insurance Act and the Truth in Lending Act to prohibit federally insured institutions from engaging in high-cost payday loans, to expand protections for consumers in connection with the making of such loans by u...


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108th CONGRESS
  1st Session
                                H. R. 1054

To amend the Internal Revenue Code of 1986 to encourage and accelerate 
 the nationwide production, retail sale, and consumer use of new motor 
 vehicles that are powered by fuel cell technology, hybrid technology, 
battery electric technology, alternative fuels, or other advanced motor 
             vehicle technologies, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 4, 2003

   Mr. Camp (for himself, Mrs. Bono, and Mr. Ramstad) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to encourage and accelerate 
 the nationwide production, retail sale, and consumer use of new motor 
 vehicles that are powered by fuel cell technology, hybrid technology, 
battery electric technology, alternative fuels, or other advanced motor 
             vehicle technologies, 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; ETC.

    (a) Short Title.--This Act may be cited as the ``Clean Efficient 
Automobiles Resulting From Advanced Car Technologies (CLEAR ACT) Act of 
2003''.
    (b) Amendment of 1986 Code.--Except as otherwise expressly 
provided, whenever in this division 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.
    (c) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; etc.
Sec. 2. Findings and purposes.
Sec. 3. Alternative motor vehicle credit.
Sec. 4. Modification of credit for qualified electric vehicles.
Sec. 5. Credit for installation of alternative fueling stations.
Sec. 6. Credit for retail sale of alternative fuels as motor vehicle 
                            fuel.
Sec. 7. Study of effectiveness of certain provisions by GAO.

SEC. 2. FINDINGS AND PURPOSES.

    (a) Findings.--Congress finds the following:
            (1) The United States is a large and diverse geographic 
        area that includes densely populated urban and suburban areas 
        along with large sparsely populated rural areas separated by 
        long distances, and, as a result, Americans require reliable, 
        efficient, and diversified modes of transportation.
            (2) According to the Energy Information Administration's 
        (referred to in this section as the ``EIA'') March 2000 
        publication ``International Energy Outlook'', oil currently 
        provides a larger share of world energy consumption than any 
        other energy source and most of the growth in oil consumption 
        in industrialized countries, including the United States, is 
        projected for the transportation sector, where few alternatives 
        are currently economical.
            (3) To meet all its national security, economic 
        development, and public health and welfare needs, the United 
        States depends on oil as the primary fuel source for the 
        transportation of people and goods and services in intrastate 
        and interstate commerce.
            (4) Since 1994, the United States has imported over 50 
        percent of the oil it has consumed and the EIA expects North 
        American petroleum imports from the Persian Gulf to more than 
        double over the forecast period of 1997-2020, with additional 
        imports from offshore Atlantic Basin producers and refiners; 
        this increasingly heavy reliance on imported oil presents 
        national security risks, contributes negatively to the balance 
        of trade of the United States, and adversely affects the United 
        States economy, public health, and the environment.
            (5) The United States currently has 121 areas containing 
        over a third of its population that do not meet the National 
        Ambient Air Quality Standards resulting in losses of many 
        billions of dollars in extra economic costs and lost 
        opportunities, immeasurable health problems, and a general 
        reduction in the quality of life for millions of Americans.
            (6) Mobile sources have become a top cause of emissions in 
        the United States.
            (7) This heavy reliance on imported oil and failure to meet 
        the National Ambient Air Quality Standards demonstrate the need 
        to accelerate development of advanced fuel cell technology, 
        hybrid technology, battery electric technology, and alternative 
        fuels technology for new motor vehicles in the transportation 
        of people and goods and services as an important means of 
        helping to reverse the trends of increasing dependence on oil 
        imports and non-attainment of air quality standards, 
        contributing to lessening national security risks, improving 
        our balance of trade with other nations, increasing economic 
        growth, improving health and quality of life for millions of 
        Americans, and providing public health, welfare, and economic 
        benefits.
            (8) Despite the availability of significant Federal and 
        private sector funds and programs to encourage technological 
        advancement for the development and use of motor vehicles that 
        are powered by fuel cell and hybrid technologies, battery 
        electric technology, and alternative technologies, consumer 
        acceptance of such vehicles and fuels has been restrained by 3 
        major barriers--the increased costs of these technologies, the 
        cost of alternative fuels, and the lack of adequate 
        infrastructure to refuel the alternative-fueled vehicles.
    (b) Purposes.--The purposes of this Act are to--
            (1) help instill consumer confidence and acceptance of 
        alternative motor vehicles by lowering the 3 major barriers to 
        this confidence and acceptance;
            (2) enable the accelerated introduction into the 
        marketplace of new motor vehicle technologies without adverse 
        emission impact, while retaining a policy of fuel neutrality in 
        order to foster private innovation and commercialization and 
        allow market forces to decide the technologies and fuels that 
        are consumer-friendly, safe, environmentally sound, and 
        economic;
            (3) provide, for a limited time period, financial 
        incentives to encourage consumers nationwide to purchase or 
        lease new fuel cell, hybrid, battery electric, and alternative 
        fuel motor vehicles;
            (4) increase demand of such vehicles so as to make the 
        annual production by manufacturers and retail sale of such 
        vehicles economically and commercially viable for the consumer;
            (5) promote and expand the use of such vehicles nationwide; 
        and
            (6) promote a nationwide diversity of motor vehicle fuels 
        for advanced and hybrid technology and alternatively fueled 
        motor vehicles.

SEC. 3. ALTERNATIVE MOTOR VEHICLE CREDIT.

    (a) In General.--Subpart B of part IV of subchapter A of chapter 1 
(relating to foreign tax credit, etc.) is amended by adding at the end 
the following new section:

``SEC. 30B. ALTERNATIVE MOTOR VEHICLE CREDIT.

    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this chapter for the taxable year an amount 
equal to the sum of--
            ``(1) the new qualified fuel cell motor vehicle credit 
        determined under subsection (b),
            ``(2) the new qualified hybrid motor vehicle credit 
        determined under subsection (c), and
            ``(3) the new qualified alternative fuel motor vehicle 
        credit determined under subsection (d).
    ``(b) New Qualified Fuel Cell Motor Vehicle Credit.--
            ``(1) In general.--For purposes of subsection (a), the new 
        qualified fuel cell motor vehicle credit determined under this 
        subsection with respect to a new qualified fuel cell motor 
        vehicle placed in service by the taxpayer during the taxable 
        year is--
                    ``(A) $8,000 ($4,000 in the case of vehicles placed 
                in service after December 31, 2008), if such vehicle 
                has a gross vehicle weight rating of not more than 
                8,500 pounds,
                    ``(B) $10,000, if such vehicle has a gross vehicle 
                weight rating of more than 8,500 pounds but not more 
                than 14,000 pounds,
                    ``(C) $20,000, if such vehicle has a gross vehicle 
                weight rating of more than 14,000 pounds but not more 
                than 26,000 pounds, and
                    ``(D) $40,000, if such vehicle has a gross vehicle 
                weight rating of more than 26,000 pounds.
            ``(2) Increase for fuel efficiency.--
                    ``(A) In general.--The amount determined under 
                paragraph (1)(A) with respect to a new qualified fuel 
                cell motor vehicle which is a passenger automobile or 
                light truck shall be increased by--
                            ``(i) $1,000, if such vehicle achieves at 
                        least 150 percent but less than 175 percent of 
                        the 2002 model year city fuel economy,
                            ``(ii) $1,500, if such vehicle achieves at 
                        least 175 percent but less than 200 percent of 
                        the 2002 model year city fuel economy,
                            ``(iii) $2,000, if such vehicle achieves at 
                        least 200 percent but less than 225 percent of 
                        the 2002 model year city fuel economy,
                            ``(iv) $2,500, if such vehicle achieves at 
                        least 225 percent but less than 250 percent of 
                        the 2002 model year city fuel economy,
                            ``(v) $3,000, if such vehicle achieves at 
                        least 250 percent but less than 275 percent of 
                        the 2002 model year city fuel economy,
                            ``(vi) $3,500, if such vehicle achieves at 
                        least 275 percent but less than 300 percent of 
                        the 2002 model year city fuel economy, and
                            ``(vii) $4,000, if such vehicle achieves at 
                        least 300 percent of the 2002 model year city 
                        fuel economy.
                    ``(B) 2002 model year city fuel economy.--For 
                purposes of subparagraph (A), the 2002 model year city 
                fuel economy with respect to a vehicle shall be 
                determined in accordance with the following tables:
                            ``(i) In the case of a passenger 
                        automobile:
                                               The 2002 model year city
``If vehicle inertia weight class                      fuel economy is:
        is:
    1,500 or 1,750 lbs............................            45.2 mpg 
    2,000 lbs.....................................            39.6 mpg 
    2,250 lbs.....................................            35.2 mpg 
    2,500 lbs.....................................            31.7 mpg 
    2,750 lbs.....................................            28.8 mpg 
    3,000 lbs.....................................            26.4 mpg 
    3,500 lbs.....................................            22.6 mpg 
    4,000 lbs.....................................            19.8 mpg 
    4,500 lbs.....................................            17.6 mpg 
    5,000 lbs.....................................            15.9 mpg 
    5,500 lbs.....................................            14.4 mpg 
    6,000 lbs.....................................            13.2 mpg 
    6,500 lbs.....................................            12.2 mpg 
    7,000 to 8,500 lbs............................            11.3 mpg.
                            ``(ii) In the case of a light truck:

                                               The 2002 model year city
``If vehicle inertia weight class                      fuel economy is:
        is:
    1,500 or 1,750 lbs............................            39.4 mpg 
    2,000 lbs.....................................            35.2 mpg 
    2,250 lbs.....................................            31.8 mpg 
    2,500 lbs.....................................            29.0 mpg 
    2,750 lbs.....................................            26.8 mpg 
    3,000 lbs.....................................            24.9 mpg 
    3,500 lbs.....................................            21.8 mpg 
    4,000 lbs.....................................            19.4 mpg 
    4,500 lbs.....................................            17.6 mpg 
    5,000 lbs.....................................            16.1 mpg 
    5,500 lbs.....................................            14.8 mpg 
    6,000 lbs.....................................            13.7 mpg 
    6,500 lbs.....................................            12.8 mpg 
    7,000 to 8,500 lbs............................            12.1 mpg.
                    ``(C) Vehicle inertia weight class.--For purposes 
                of subparagraph (B), the term `vehicle inertia weight 
                class' has the same meaning as when defined 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.).
            ``(3) New qualified fuel cell motor vehicle.--For purposes 
        of this subsection, the term `new qualified fuel cell motor 
        vehicle' means a motor vehicle--
                    ``(A) which is propelled by power derived from one 
                or more cells which convert chemical energy directly 
                into electricity by combining oxygen with hydrogen fuel 
                which is stored on board the vehicle in any form and 
                may or may not require reformation prior to use,
                    ``(B) which, in the case of a passenger automobile 
                or light truck--
                            ``(i) for 2002 and later model vehicles, 
                        has received a certificate of conformity under 
                        the Clean Air Act and meets or exceeds the 
equivalent qualifying California low emission vehicle standard under 
section 243(e)(2) of the Clean Air Act for that make and model year, 
and
                            ``(ii) for 2004 and later model vehicles, 
                        has received a certificate that such vehicle 
                        meets or exceeds the Bin 5 Tier II emission 
                        level established in regulations prescribed by 
                        the Administrator of the Environmental 
                        Protection Agency under section 202(i) of the 
                        Clean Air Act for that make and model year 
                        vehicle,
                    ``(C) the original use of which commences with the 
                taxpayer,
                    ``(D) which is acquired for use or lease by the 
                taxpayer and not for resale, and
                    ``(E) which is made by a manufacturer.
    ``(c) New Qualified Hybrid Motor Vehicle Credit.--
            ``(1) In general.--For purposes of subsection (a), the new 
        qualified hybrid motor vehicle credit determined under this 
        subsection with respect to a new qualified hybrid motor vehicle 
        placed in service by the taxpayer during the taxable year is 
        the credit amount determined under paragraph (2).
            ``(2) Credit amount.--
                    ``(A) In general.--The credit amount determined 
                under this paragraph shall be determined in accordance 
                with the following tables:
                            ``(i) In the case of a new qualified hybrid 
                        motor vehicle which is a passenger automobile, 

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