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United States · Bill · HR

H.R. 7560 (96th)

A bill to amend the Internal Revenue Code of 1954 to allow a refundable income tax credit for the purchase of certain fuel-efficient automobiles, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

12 June 1980

Last action

12 June 1980 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Glickman, Dan [D-KS-4], Rep. Brodhead, William [D-MI-17], Rep. Winn, Larry, Jr. [R-KS-3], Rep. Matsui, Robert T. [D-CA-5], Rep. Young, Robert A. [D-MO-2], Rep. Chappell, Bill, Jr. [D-FL-4], Rep. Oberstar, James L. [D-MN-8], Sen. Mikulski, Barbara A. [D-MD], Rep. Wolpe, Howard E. [D-MI-3], Rep. Blanchard, James [D-MI-18], Rep. Roe, Robert A. [D-NJ-8], Rep. Kildee, Dale E. [D-MI-5], Rep. Mitchell, Parren J. [D-MD-7], Rep. Ratchford, William R. [D-CT-5]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to allow individual taxpayers a refundable income tax credit for the purchase of domestically manufactured fuel-efficient passenger automobiles acquired after June 12, 1980, and before January 1, 1988. Limits the amount of such credit to the lesser of ten percent of the cost of such automobile or $1,000. Limits the applicability of the credit to one automobile in a taxable year, and denies the credit to a taxpayer who has claimed such credit in any of the two immediately preceding taxable years. Permits a full ten percent investment tax credit for fuel-efficient automobiles without regard to the useful life of such automobiles.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 12 June 1980

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 12 June 1980

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 12 June 1980

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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