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S 3531 112th Congress Senate Taxation Alternative and renewable resources Energy efficiency and conservation Hybrid, electric, and advanced technology vehicles Income tax credits Motor fuels

A bill to amend the Internal Revenue Code of 1986 to increase, expand, and extend the credit for hydrogen-related alternative fuel vehicle refueling property and to increase the investment credit for more efficient fuel cells.

Introduced: September 12, 2012 Introduced by: Blumenthal, Richard Democratic · Connecticut See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 12, 2012
Read twice and referred to the Committee on Finance.
Sep 12, 2012
Introduced in Senate
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code, with respect to the tax credit for alternative fuel vehicle refueling property expenditures, to: (1) increase the rate of such credit from 30% to 50% for hydrogen-related alternative fuel vehicles, (2) eliminate the dollar limitation on such credit for hydrogen-related vehicles, (3) allow such credit for off-highway motor vehicles designed for carrying or towing loads, and (4) extend such credit through 2016 for property related to hydrogen.

Increases the 30% energy tax credit for investment in fuel cell property to: (1) 50% for fuel cell property used in a combined heat and power system having an energy efficiency percentage of 70% or more, and (2) 40% for fuel cell property having an energy efficiency percentage of at least 60% but less than 70%.

What's happening now September 12, 2012

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1