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S 1240 109th Congress Senate Taxation Depreciation and amortization Diesel motor Environmental Protection Income tax Investment tax credit Minimum tax Motor vehicle pollution control Tax deductions Transportation and Public Works Trucks

A bill to amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with new diesel engine technologies, and for other purposes.

Introduced: June 14, 2005 See on congress.gov
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 14, 2005
Read twice and referred to the Committee on Finance.
Jun 14, 2005
Sponsor introductory remarks on measure. (CR S6488-6489)
Jun 14, 2005
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow an investment tax credit for five percent of the cost of a qualified truck. Defines "qualified truck" as a motor vehicle: (1) first placed in service on or after January 1, 2007, and before January 1, 2008; (2) powered by diesel fuel; (3) having a gross vehicle weight of more than 26,000 pounds; and (4) which complies with certain Environmental Protection Agency (EPA) regulations for diesel emissions. Allows such credit to reduce regular or alternative minimum tax liability.

Permits a taxpayer election to expense the cost of qualified trucks placed in service in 2007.

What's happening now June 14, 2005

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 3301 Identical bill To amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with new diesel…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Wyden, Ron
Oregon · Jul 13, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1240: A bill to amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with new diesel engine technologies, and for other purposes.. 109th Congress. Open America. https://openamerica.io/bill/109-S-1240/
MLA
"S. 1240: A bill to amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with new diesel engine technologies, and for other purposes.." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-1240/.
Bluebook (legal)
S. 1240, 109th Cong. (2026), https://openamerica.io/bill/109-S-1240/.
Markdown link
[S. 1240: A bill to amend the Internal Revenue Code of 1986 to allow an investment tax credit for the purchase of trucks with new diesel engine technologies, and for other purposes.](https://openamerica.io/bill/109-S-1240/)
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