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‘‘(2) RESIDENTIAL PROPERTY.—In the case of 
any property installed on property which is used as 
the principal residence (within the meaning of section 
121) of the taxpayer, paragraph (1) of section 
179A(d) shall not apply. 
‘‘(d) APPLICATION WITH OTHER CREDITS.—The cred-
it allowed under subsection (a) for any taxable year shall 
not exceed the excess (if any) of— 
‘‘(1) the regular tax for the taxable year reduced 
by the sum of the credits allowable under subpart A 
and sections 27, 29, 30, and 30B, over 
‘‘(2) the tentative minimum tax for the taxable 
year. 
‘‘(e) CARRYFORWARD ALLOWED.— 
‘‘(1) IN GENERAL.—If the credit amount allow-
able under subsection (a) for a taxable year exceeds 
the amount of the limitation under subsection (d) for 
such taxable year, such excess shall be allowed as a 
credit carryforward for each of the 20 taxable years 
following the unused credit year. 
‘‘(2) RULES.—Rules similar to the rules of sec-
tion 39 shall apply with respect to the credit 
carryforward under paragraph (1). 
‘‘(f) SPECIAL RULES.—For purposes of this section—
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‘‘(1) BASIS REDUCTION.—The basis of any prop-
erty shall be reduced by the portion of the cost of such 
property taken into account under subsection (a). 
‘‘(2) NO DOUBLE BENEFIT.—No deduction shall 
be allowed under section 179A with respect to any 
property with respect to which a credit is allowed 
under subsection (a). 
‘‘(3) PROPERTY USED BY TAX-EXEMPT ENTITY.— 
In the case of any qualified alternative fuel vehicle re-
fueling property the use of which is described in para-
graph (3) or (4) of section 50(b) and which is not 
subject to a lease, the person who sold such property 
to the person or entity using such property shall be 
treated as the taxpayer that placed such property in 
service, but only if such person clearly discloses to 
such person or entity in a document the amount of 
any credit allowable under subsection (a) with respect 
to such property (determined without regard to sub-
section (d)). 
‘‘(4) PROPERTY USED OUTSIDE UNITED STATES 
NOT QUALIFIED.—No credit shall be allowable under 
subsection (a) with respect to any property referred to 
in section 50(b)(1) or with respect to the portion of 
the cost of any property taken into account under sec-
tion 179.
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‘‘(5) ELECTION NOT TO TAKE CREDIT.—No credit 
shall be allowed under subsection (a) for any property 
if the taxpayer elects not to have this section apply 
to such property. 
‘‘(6) RECAPTURE RULES.—Rules similar to the 
rules of section 179A(e)(4) shall apply. 
‘‘(g) REGULATIONS.—The Secretary shall prescribe 
such regulations as necessary to carry out the provisions 
of this section. 
‘‘(h) TERMINATION.—This section shall not apply to 
any property placed in service— 
‘‘(1) in the case of property relating to hydrogen, 
after December 31, 2014, and 
‘‘(2) in the case of any other property, after De-
cember 31, 2009.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 1016(a), as amended by this Act, is 
amended by striking ‘‘and’’ at the end of paragraph 
(36), by striking the period at the end of paragraph 
(37) and inserting ‘‘, and’’, and by adding at the end 
the following new paragraph: 
‘‘(38) to the extent provided in section 30C(f).’’. 
(2) Section 55(c)(2), as amended by this Act, is 
amended by inserting ‘‘30C(e),’’ after ‘‘30B(e),’’.
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(3) Section 6501(m) is amended by inserting 
‘‘30C(f)(5),’’ after ‘‘30B(f)(9),’’. 
(4) The table of sections for subpart B of part IV 
of subchapter A of chapter 1, as amended by this Act, 
is amended by inserting after the item relating to sec-
tion 30B the following new item: 
‘‘Sec. 30C. Clean-fuel vehicle refueling property credit.’’. 
(e) EFFECTIVE DATE.—The amendments made by this 
section shall apply to property placed in service after De-
cember 31, 2005, in taxable years ending after such date. 
SEC. 1534. VOLUMETRIC EXCISE TAX CREDIT FOR ALTER-
NATIVE FUELS. 
(a) IMPOSITION OF TAX.— 
(1) IN GENERAL.—Section 4041(a)(2)(B) (relat-
ing to rate of tax) is amended— 
(A) by adding ‘‘and’’ at the end of clause 
(i), 
(B) by striking clauses (ii) and (iii), 
(C) by striking the last sentence, and 
(D) by adding after clause (i) the following 
new clause: 
‘‘(ii) in the case of liquefied natural 
gas, any liquid fuel (other than ethanol and 
methanol) derived from coal (including 
peat), and liquid hydrocarbons derived from
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biomass (as defined in section 29(c)(3)), 
24.3 cents per gallon.’’. 
(2) TREATMENT
OF
COMPRESSED
NATURAL 
GAS.—Section 4041(a)(3) (relating to compressed nat-
ural gas) is amended— 
(A) by striking ‘‘48.54 cents per MCF (de-
termined at standard temperature and pres-
sure)’’ in subparagraph (A) and inserting ‘‘18.3 
cents per energy equivalent of a gallon of gaso-
line’’, and 
(B) by striking ‘‘MCF’’ in subparagraph 
(C) and inserting ‘‘energy equivalent of a gallon 
of gasoline’’. 
(3) 
ZERO
RATE
FOR
HYDROGEN.—Section 
4041(a)(2)(A) is amended by inserting ‘‘liquefied hy-
drogen,’’ after ‘‘fuel oil,’’. 
(4) NEW REFERENCE.—The heading for para-
graph (2) of section 4041(a) is amended by striking 
‘‘SPECIAL
MOTOR
FUELS’’ and inserting ‘‘ALTER-
NATIVE FUELS’’. 
(b) CREDIT
FOR ALTERNATIVE FUEL
AND ALTER-
NATIVE FUEL MIXTURES.— 
(1) IN GENERAL.—Section 6426(a) (relating to 
allowance of credits) is amended to read as follows: