H.R.5705 - Electric Vehicle Advancement Act of 2010111th Congress (2009-2010)
|Sponsor:||Rep. Ryan, Tim [D-OH-17] (Introduced 07/01/2010)|
|Committees:||House - Ways and Means|
|Latest Action:||07/01/2010 Referred to the House Committee on Ways and Means.|
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Summary: H.R.5705 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (07/01/2010)
Electric Vehicle Advancement Act of 2010 - Amends the Internal Revenue Code, with respect to the tax credit for plug-in electric vehicles, to allow an increased tax credit for the purchase of qualified electric vehicles which are a 2- or 3-wheeled vehicles.
Defines "2- or 3-wheeled vehicle" to include a vehicle: (1) with motive power having a seat, seats, or saddle for the use of the rider or riders and designed to travel on not more than 3 wheels in contact with the ground; (2) that has an electric motor that produces in excess of 5-brake horsepower; (3) that draws propulsion from 1 or more traction batteries; and (4) that has been certified to the Department of Transportation.
Limits the number of such vehicles eligible for the credit based upon a phaseout period effective after the first 100,000 of such vehicles are manufactured.