S 795
108th Congress
Senate
Taxation
Automobile industry
Automobiles
Commerce
Corporation taxes
Energy
Environmental Protection
Fuel consumption
Income tax
Motor vehicle safety
Safety measures
Standards
Tax credits
Tax rates
Tax-exempt organizations
Transportation and Public Works
Tax Incentives for Fuel Efficient Vehicles Act of 2003
Introduced: April 7, 2003
Introduced by:
Durbin, Richard J.
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 7, 2003
Read twice and referred to the Committee on Finance.
Apr 7, 2003
Sponsor introductory remarks on measure. (CR S4899-4902)
Apr 7, 2003
Introduced in Senate
Plain-English summary
Tax Incentives for Fuel Efficient Vehicles Act of 2003 - Amends the Internal Revenue Code with respect to the (automotive) gas guzzler manufacturer excise tax to: (1) increase the weight of a covered automobile to12,000 pounds; (2) revise the excise tax table, including the addition of a model-year calculation criteria; (3) revise the exception to such coverage, including elimination of the exception based upon nonpassenger treatment under specified Department of Transportation rules; and (4) apply such provisions to sales after October 31, 2005.
Establishes a highly fuel-efficient automobile credit for taxpayer purchases of a new passenger or nonpassenger automobile (as defined by this Act) that exceeds specified fuel economy ratings. Applies such credit to vehicles placed in service after October 31, 2005.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1