VEHICLE Technology Act of 2005

Summary

Volume Enhancing Hardware Incentives for Consumer Lowered Expenses Technology Act of 2005 or the VEHICLE Technology Act of 2005 - Amends the Internal Revenue Code to repeal the phaseouts of the tax credit for qualified electric vehicles and of the tax deduction for clean-fuel vehicles. Allows a tax credit for investment in certain alternative motor vehicles, including fuel cell vehicles, advanced lean burn technology motor vehicles, hybrid motor vehicles, alternative fuel motor vehicles, and mixed-fuel vehicles. Sets forth formulae for determining the amount of such credit based on various factors, including vehicle weight and fuel efficiency ratings. Modifies the tax deduction for clean-fuel vehicles and certain refueling property to: (1) extend the terminating date for such deduction through 2009, and through 2012 for hydrogen-related property; (2) increase to $150,000 the cost limitation for such deduction; and (3) extend the deduction to nonbusiness property.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 February 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 8 February 2005

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• Introduced in House

  summary · EN · 8 February 2005

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