Page:United States Statutes at Large Volume 106 Part 4.djvu/280

 106 STAT. 3016 PUBLIC LAW 102-486—OCT. 24, 1992 power production facility pursuant to section 210 of the Public Utility Regulatory Policy Act of 1978." (b) CLERICAL AMENDMENT. — The table of sections for part III of subchapter B of chapter 1 is amended by striking the item relating to section 136 and inserting: "Sec. 136. Energy conservation subsidies provided by public utilities. "Sec. 137. Cross reference to other Acts." 26 USC l36note. (c) EFFECTIVE DATE.—The amendments made by this section shall apply to amounts received after December 31, 1992. SEC. 1913. TREATMENT OF CLEAN-FUEL VEHICLES. (a) DEDUCTION FOR CLEAN-FUEL VEHICLES AND CERTAIN REFUELING PROPERTY. — (1) IN GENERAL. —Part VI of subchapter B of chapter 1 (relating to itemized deductions for individuals and corporations) is amended by adding after section 179 the following new section: <«EC. 179A. DEDUCTION FOR CLEAN-FUEL VEHICLES AND CERTAIN REFUELING PROPERTY. "(a) ALLOWANCE OF DEDUCTION. — "(1) IN GENERAL.—There shall be allowed as a deduction an amount equal to the cost of— "(A) any qualified clean-fuel vehicle property, and "(B) any qualified clean-fuel vehicle refueling property. The deduction under the preceding sentence with respect to any property shall be allowed for the taxable year in which such property is placed in service. "(2) INCREMENTAL COST FOR CERTAIN VEHICLES. —If a vehicle may be propelled by both a clean-burning fuel and any other fuel, onl}r the incremental cost of permitting the use of the clean-burning fuel shall be taken into account. "(1) QUALIFIED CLEAN-FUEL VEHICLE PROPERTY.— "(A) IN GENERAL.—The cost which may be taken into account under subsection (a)(1)(A) with respect to any motor vehicle shall not exceed— "(i) in the case of a motor vehicle not described in clause (ii) or (iii), $2,000, "(ii) in the case of any truck or van with a gross vehicle weight rating greater than 10,000 pounds but not greater than 26,000 pounds, $5,000, or "(iii) $50,000 in the case of— "(I) a truck or van with a gross vehicle weight rating greater than 26,000 pounds, or "(II) any bus which nas a seating capacity ' of at least 20 adults (not including the driver). "(B) PHASEOUT.—In the case of any qualified cleanfuel vehicle property placed in service after December 31, 2001, the limit otherwise applicable under subparagraph (A) shall be reduced by— "(i) 25 percent in the case of property placed in service in calendar year 2002, » "(ii) 50 percent in the case of property placed in service in calendar year 2003, and "(iii) 75 percent in the case of property placed in service in calendar year 2004.
 * (b) LIMITATIONS.—

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