A bill to amend the Internal Revenue Code of 1954 to allow a refundable income tax credit for the purchase of new automobiles manufactured by certain companies which have substantially increased their average fuel economy.

referredUnited States· United States Congress· EN

Introduced

4 September 1980

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Amends the Internal Revenue Code to allow individual taxpayers a refundable income tax credit for the purchase of new passenger automobiles after May 14, 1980, and before January 1, 1981, which were manufactured by companies whose average fuel economy rating for passenger automobiles in model year 1979 equals or exceeds 120 percent of their rating for model year 1974. Establishes the amount of such credit at $500.

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Documents

1 official file

Introduced in Senate
summary · EN · 4 September 1980
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/senate-bill/3085
Open data entity: https://api.congress.gov/v3/bill/96/s/3085