II 

110TH CONGRESS 

1ST SESSION S. 1619 

To amend the Internal Revenue Code of 1986 to provide a credit for fuelefficient motor vehicles, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JUNE 14, 2007 

Mr. WYDEN (for himself and Mr. BENNETT) introduced the following bill; 

which was read twice and referred to the Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

a credit for fuel-efficient motor vehicles, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Oil Independence, Lim5 iting Subsidies, and Accelerating Vehicle Efficiency 

6 (OILSAVE) Act’’. 

7 SEC. 2. TAX CREDIT FOR FUEL-EFFICIENT MOTOR VEHI8 CLES. 

9 (a) IN GENERAL.—Subpart B of part IV of sub10 chapter A of chapter 1 of the Internal Revenue Code of 

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1 1986 (relating to other credits) is amended by inserting 

2 after section 30C the following new section: 

3 ‘‘SEC. 30D. FUEL-EFFICIENT MOTOR VEHICLE CREDIT. 

4 ‘‘(a) ALLOWANCE OF CREDIT.—There shall be al5 lowed a credit against the tax imposed by this chapter for 

6 the taxable year an amount equal to the applicable amount 

7 for each new qualified fuel-efficient motor vehicle placed 

8 in service by the taxpayer during the taxable year. 

9 ‘‘(b) NEW QUALIFIED FUEL-EFFICIENT MOTOR VE10 HICLE.—For purposes of this section, the term ‘new quali11 fied fuel-efficient motor vehicle’ means a motor vehicle (as 

12 defined under section 30(c)(2))— 

13 ‘‘(1) which is a passenger automobile or a light 

14 truck, 

15 ‘‘(2) which— 

16 ‘‘(A) in the case of a passenger automobile, 

17 achieves a fuel economy of not less than 34.5 

18 miles per gallon, and 

19 ‘‘(B) in the case of a light truck, achieves 

20 a fuel economy of not less than 27.5 miles per 

21 gallon, 

22 ‘‘(3) the original use of which commences with 

23 the taxpayer, 

24 ‘‘(4) which is acquired for use or lease by the 

25 taxpayer and not for resale, and 

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1 ‘‘(5) which is made by a manufacturer for 

2 model year 2009, 2010, or 2011. 

3 ‘‘(c) APPLICABLE AMOUNT.—For purposes of this 

4 section, the applicable amount shall be determined as fol5 lows: 

If the motor vehicle achieves a fuel economy of: 

In the case 

of a passenger automobile, the 

applicable 

amount is: 

In the case 

of a light 

truck, the 

applicable 

amount is: 

27.5 miles per gallon .............................................. $0 $630 

28.5 ......................................................................... 0 710 

29.5 ......................................................................... 0 780 

30.5 ......................................................................... 0 850 

31.5 ......................................................................... 0 920 

32.5 ......................................................................... 0 980 

33.5 ......................................................................... 0 1,040 

34.5 ......................................................................... 630 1,090 

35.5 ......................................................................... 700 1,140 

36.5 ......................................................................... 760 1,190 

37.5 ......................................................................... 820 1,240 

38.5 ......................................................................... 880 1,280 

39.5 ......................................................................... 940 1,320 

40.5 ......................................................................... 990 1,360 

41.5 ......................................................................... 1,040 1,400 

42.5 ......................................................................... 1,090 1,430 

43.5 ......................................................................... 1,140 1,470 

44.5 ......................................................................... 1,180 1,500 

45.5 ......................................................................... 1,220 1,530 

46.5 ......................................................................... 1,260 1,560 

47.5 ......................................................................... 1,300 1,590 

48.5 ......................................................................... 1,340 1,620 

49.5 ......................................................................... 1,370 1,640 

50.5 ......................................................................... 1,410 1,670 

51.5 ......................................................................... 1,440 1,690 

52.5 ......................................................................... 1,470 1,720 

53.5 ......................................................................... 1,500 1,740 

54.5 ......................................................................... 1,530 1,760 

55.5 ......................................................................... 1,560 1,780 

56.5 ......................................................................... 1,590 1,800 

57.5 ......................................................................... 1,610 1,820 

58.5 ......................................................................... 1,640 1,840 

59.5 or more ........................................................... 1,660 1,860 

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1 ‘‘(d) OTHER DEFINITIONS AND SPECIAL RULES.— 

2 For purposes of this section— 

3 ‘‘(1) FUEL ECONOMY.—The term ‘fuel econ4 omy’ has the meaning given such term under section 

5 32901(a)(10) of title 49, United States Code. 

6 ‘‘(2) MODEL YEAR.—The term ‘model year’ has 

7 the meaning given such term under section 

8 32901(a)(14) of such title. 

9 ‘‘(3) OTHER TERMS.—The terms ‘passenger 

10 automobile’, ‘light truck’, and ‘manufacturer’ have 

11 the meaning given such terms in regulations pre12 scribed by the Administrator of the Environmental 

13 Protection Agency for purposes of the administra14 tion of title II of the Clean Air Act. 

15 ‘‘(4) REDUCTION IN BASIS.—For purposes of 

16 this subtitle, the basis of any property for which a 

17 credit is allowable under subsection (a) shall be re18 duced by the amount of such credit so allowed. 

19 ‘‘(5) NO DOUBLE BENEFIT.— 

20 ‘‘(A) COORDINATION WITH OTHER VEHI21 CLE CREDITS.—No credit shall be allowed 

22 under subsection (a) with respect to any new 

23 qualified fuel-efficient motor vehicle for any tax24 able year if a credit is allowed with respect to 

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1 such motor vehicle for such taxable year under 

2 section 30 or 30B. 

3 ‘‘(B) OTHER TAX BENEFITS.—The amount 

4 of any deduction or credit (other than the credit 

5 allowable under this section and any credit de6 scribed in subparagraph (A)) allowable under 

7 this chapter with respect to any new qualified 

8 fuel-efficient motor vehicle shall be reduced by 

9 the amount of credit allowed under subsection 

10 (a) for such motor vehicle for such taxable year. 

11 ‘‘(6) PROPERTY USED OUTSIDE THE UNITED

12 STATES, ETC., NOT QUALIFIED.—No credit shall be 

13 allowable under subsection (a) with respect to any 

14 property referred to in section 50(b)(1) or with re15 spect to the portion of the cost of any property 

16 taken into account under section 179. 

17 ‘‘(7) ELECTION NOT TO TAKE CREDIT.—No 

18 credit shall be allowed under subsection (a) for any 

19 vehicle if the taxpayer elects not to have this section 

20 apply to such vehicle. 

21 ‘‘(8) INTERACTION WITH AIR QUALITY AND

22 MOTOR VEHICLE SAFETY STANDARDS.—Unless oth23 erwise provided in this section, a motor vehicle shall 

24 not be considered eligible for a credit under this sec25 tion unless such vehicle is in compliance with— 

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1 ‘‘(A) the applicable provisions of the Clean 

2 Air Act for the applicable make and model year 

3 of the vehicle (or applicable air quality provi4 sions of State law in the case of a State which 

5 has adopted such provision under a waiver 

6 under section 209(b) of the Clean Air Act), and 

7 ‘‘(B) the motor vehicle safety provisions of 

8 sections 30101 through 30169 of title 49, 

9 United States Code. 

10 ‘‘(e) CREDIT MAY BE TRANSFERRED.— 

11 ‘‘(1) IN GENERAL.—A taxpayer may, in connec12 tion with the purchase of a new qualified fuel-effi13 cient motor vehicle, transfer any credit allowable 

14 under subsection (a) to any person who is in the 

15 trade or business of selling new qualified fuel-effi16 cient motor vehicles, but only if such person clearly 

17 discloses to such taxpayer, through the use of a win18 dow sticker attached to the new qualified fuel-effi19 cient vehicle— 

20 ‘‘(A) the amount of any credit allowable 

21 under subsection (a) with respect to such vehi22 cle, and 

23 ‘‘(B) a notification that the taxpayer will 

24 not be eligible for any credit under section 30 

25 or 30B with respect to such vehicle unless the 

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1 taxpayer elects not to have this section apply 

2 with respect to such vehicle. 

3 ‘‘(2) CONSENT REQUIRED FOR REVOCATION.— 

4 Any transfer under paragraph (1) may be revoked 

5 only with the consent of the Secretary. 

6 ‘‘(3) REGULATIONS.—The Secretary may pre7 scribe such regulations as necessary to ensure that 

8 any credit described in paragraph (1) is claimed 

9 once and not retransferred by a transferee.’’. 

10 (b) CONFORMING AMENDMENTS.— 

11 (1) Section 1016(a) of the Internal Revenue 

12 Code of 1986 is amended by striking ‘‘and’’ at the 

13 end of paragraph (36), by striking the period at the 

14 end of paragraph (37) and inserting ‘‘, and’’, and by 

15 adding at the end the following new paragraph: 

16 ‘‘(38) to the extent provided in section 

17 30D(d)(4).’’. 

18 (2) Section 6501(m) of such Code is amended 

19 by inserting ‘‘30D(d)(7),’’ after ‘‘30C(e)(5),’’. 

20 (3) The table of section for subpart C of part 

21 IV of subchapter A of chapter 1 of such Code is 

22 amended by inserting after the item relating to sec23 tion 30C the following new item: 

‘‘Sec. 30D. Fuel-efficient motor vehicle credit.’’. 

24 (c) EFFECTIVE DATE.—The amendments made by 

25 this section shall apply to property placed in service after 

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1 the date of the enactment of this Act with respect to model 

2 years 2009, 2010, and 2011. 

3 SEC. 3. SENSE OF THE SENATE REGARDING OFFSETTING 

4 REVENUES. 

5 It is the sense of the Senate that the cost of the 

6 amendments made by section 2 shall be offset by equiva7 lent revenues specified in related legislation. 

Æ 

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