H.R.1618 - To amend the Internal Revenue Code of 1986 to provide a credit for the purchase of plug-in hybrid vehicles.110th Congress (2007-2008)
|Sponsor:||Rep. Camp, Dave [R-MI-4] (Introduced 03/21/2007)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 03/21/2007 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1618 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in House (03/21/2007)
Amends the Internal Revenue Code to allow a tax credit for 10% of the cost of a qualified plug-in hybrid vehicle. Limits the amount of such credit to $4,000 for vehicles with a 4kWh traction battery, and $250 for each additional kWh of traction battery capacity as exceeds 4kWh but does not exceed 50kWh.
Defines "qualified plug-in hybrid vehicle" as a passenger motor vehicle which has received a certificate of conformity under the Clean Air Act and which has not less than two onboard sources of stored energy, one of which is energized by plugging into an external source of electric power.
Terminates such credit after 2014.