From the full text of the “Bailout Bill of 2008” related to Electric Cars:
10 ‘‘SEC. 30D. NEW QUALIFIED PLUG-IN ELECTRIC DRIVE
11 MOTOR VEHICLES.
12 ‘‘(a) ALLOWANCE OF CREDIT.—
13 ‘‘(1) IN shall be allowed as a
GENERAL.—There
14 credit against the tax imposed by this chapter for
15 the taxable year an amount equal to the applicable
16 amount with respect to each new qualified plug-in
17 electric drive motor vehicle placed in service by the
18 taxpayer during the taxable year.
19 ‘‘(2) APPLICABLE purposes of
AMOUNT.—For
20 paragraph (1), the applicable amount is sum of—
21 ‘‘(A) $2,500, plus
22 ‘‘(B) $417 for each kilowatt hour of trac-
23 tion battery capacity in excess of 4 kilowatt
24 hours.
4 ‘‘(c) NEW QUALIFIED PLUG-IN ELECTRIC DRIVE
5 MOTOR VEHICLE.—For purposes of this section, the term
6 ‘new qualified plug-in electric drive motor vehicle’ means
7 a motor vehicle—
8 ‘‘(1) which draws propulsion using a traction
9 battery with at least 4 kilowatt hours of capacity,
10 ‘‘(2) which uses an offboard source of energy to
11 recharge such battery,
12 ‘‘(3) which, in the case of a passenger vehicle
13 or light truck which has a gross vehicle weight rat-
14 ing of not more than 8,500 pounds, has received a
15 certificate of conformity under the Clean Air Act
16 and meets or exceeds the equivalent qualifying Cali-
17 fornia low emission vehicle standard under section
18 243(e)(2) of the Clean Air Act for that make and
19 model year, and
20 ‘‘(A) in the case of a vehicle having a gross
21 vehicle weight rating of 6,000 pounds or less,
22 the Bin 5 Tier II emission standard established
23 in regulations prescribed by the Administrator
24 of the Environmental Protection Agency under
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194
1 section 202(i) of the Clean Air Act for that
2 make and model year vehicle, and
3 ‘‘(B) in the case of a vehicle having a gross
4 vehicle weight rating of more than 6,000
5 pounds but not more than 8,500 pounds, the
6 Bin 8 Tier II emission standard which is so es-
7 tablished,
8 ‘‘(4) the original use of which commences with
9 the taxpayer,
10 ‘‘(5) which is acquired for use or lease by the
11 taxpayer and not for resale, and
12 ‘‘(6) which is made by a manufacturer.
6 SEC. 207. ALTERNATIVE FUEL VEHICLE REFUELING PROP-
7 ERTY CREDIT.
8 (a) EXTENSION CREDIT.—Paragraph (2) of sec-
OF
9 tion 30C(g) is amended by striking ‘‘December 31, 2009’’
10 and inserting ‘‘December 31, 2010’’.
11 (b) INCLUSION ELECTRICITY CLEAN-BURN-
OF AS A
12 FUEL.—Section 30C(c)(2) is amended by adding at
ING
13 the end the following new subparagraph:
14 ‘‘(C) Electricity.’’.
15 (c) EFFECTIVE DATE.—The amendments made by
16 this section shall apply to property placed in service after
17 the date of the enactment of this Act, in taxable years
18 ending after such date.
….and on the bicycle commute provisions:
15 (c) DEFINITIONS.—Paragraph (5) of section 132(f)
16 is amended by adding at the end the following:
17 ‘‘(F) DEFINITIONS RELATED TO BICYCLE
18 COMMUTING REIMBURSEMENT.—
19 ‘‘(i) QUALIFIED BICYCLE COMMUTING
20 term ‘qualified bi-
REIMBURSEMENT.—The
21 cycle commuting reimbursement’ means,
22 with respect to any calendar year, any em-
23 ployer reimbursement during the 15-month
24 period beginning with the first day of such
25 calendar year for reasonable expenses in-
26 curred by the employee during such cal-
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206
1 endar year for the purchase of a bicycle
2 and bicycle improvements, repair, and stor-
3 age, if such bicycle is regularly used for
4 travel between the employee’s residence
5 and place of employment.
6 ‘‘(ii) APPLICABLE ANNUAL LIMITA-
7 term ‘applicable annual limita-
TION.—The
8 tion’ means, with respect to any employee
9 for any calendar year, the product of $20
10 multiplied by the number of qualified bicy-
11 cle commuting months during such year.
12 ‘‘(iii) QUALIFIED BICYCLE COM-
13 term ‘qualified bi-
MUTING MONTH.—The
14 cycle commuting month’ means, with re-
15 spect to any employee, any month during
16 which such employee—
17 ‘‘(I) regularly uses the bicycle for
18 a substantial portion of the travel be-
19 tween the employee’s residence and
20 place of employment, and
21 ‘‘(II) does not receive any benefit
22 described in subparagraph (A), (B),
23 or (C) of paragraph (1).’’.
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