To amend the Internal Revenue Code of 1986 to provide a credit for the purchase of new neighborhood electric vehicles.

Summary

Amends the Internal Revenue Code to allow a tax credit for the purchase of a new neighborhood electric vehicle. Limits the amount of such credit to the lesser of $1,000 or the amount paid for such vehicle. Defines "new neighborhood electric vehicle" as a U.S. manufactured vehicle which: (1) draws propulsion energy solely from onboard sources of a rechargeable energy storage system; (2) is classified by the National Highway Traffic Safety Administration (NHTSA) as a low-speed vehicle; (3) has four wheels; (4) has a top attainable speed in one mile of more than 20 mph and not more than 35 mph on a paved level surface; and (5) has a gross vehicle weight rating of less than 2,500 pounds. Terminates such credit after 2013.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 1 August 2008

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• Introduced in House (PDF)

  Introduced in House · EN · 1 August 2008

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• Introduced in House

  summary · EN · 1 August 2008

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