A bill to amend the Internal Revenue Code of 1954 to allow a credit for the purchase of electric motor highway vehicles.

Summary

Amends the Internal Revenue Code to allow a nonrefundable income tax credit equal to ten percent of the cost of a qualified electric motor vehicle to the extent that the cost of such vehicle does not exceed $3,000. Defines a "qualified electric motor vehicle" as any four-wheeled vehicle which: (1) is manufactured primarily for use on the road; (2) is powered primarily by rechargeable electric current; (3) is acquired by the taxpayer on or after January 1, 1979, for his personal use; and (4) begins its original use with the taxpayer or a member of his family. Terminates the credit for electric vehicles purchased after December 31, 1985.

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Documents

1 official file

• Introduced in House

  summary · EN · 23 May 1979

  Open at official source

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