Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022
Bill: H.R.8165 | Sponsor: Rep. Ryan, Tim (D-OH)
Policy area: Taxation

Summary:
Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022
This bill allows a new tax deduction through 2026 for 50% of the cost of purchasing a qualified retreaded tire (i.e., a retreaded truck tire manufactured in the United States by a manufacturer that is not owned or under the control of a state-owned enterprise and purchased by the taxpayer in the United States).

To amend the Internal Revenue Code of 1986 to establish a deduction for 
            certain retreaded tires, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Commercial Vehicle Fleet Retreaded 
Tire Utilization Reinvestment and Recovery Act of 2022''.

SEC. 2. DEDUCTION FOR CERTAIN RETREADED TIRES.

    (a) In General.--Part VI of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by adding at the end the 
following new section:

``SEC. 199B. DEDUCTION FOR CERTAIN RETREADED TIRES.

    ``(a) In General.--There shall be allowed as a deduction for the 
taxable year an amount equal to 50 percent of the amounts paid or 
incurred by the taxpayer during the taxable year for the purchase of a 
qualified retreaded tire.
    ``(b) Definitions.--For purposes of this section--
            ``(1) Qualified retreaded tire.--The term `qualified 
        retreaded tire' means a retreaded truck tire--
                    ``(A) manufactured in the United States by a 
                manufacturer that is not owned or under the control of 
                a state-owned enterprise, and
                    ``(B) purchased by the taxpayer in the United 
                States.
            ``(2) State-owned enterprise.--The term `state-owned 
        enterprise' has the meaning given such term in 49 U.S.C. 
        2017(a)(10).
    ``(c) Limitation.--No credit under subsection (a) shall be allowed 
to any taxpayer that is a state-owned enterprise.
    ``(d) Termination.--No deduction shall be allowed under this 
section for any taxable year beginning after December 31, 2026.''.
    (b) Clerical Amendment.--The table of sections for part VI of 
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new item:

``Sec. 199B. Deduction for certain retreaded tires.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2021.

SEC. 3. REPORT ON DEDUCTION FOR CERTAIN RETREADED TIRES.

    (a) In General.--Not later than 3 years after the date of the 
enactment of this Act, the Secretary of the Treasury (or the 
Secretary's delegate), shall submit to the Committee on Ways and Means 
of the House of Representatives and the Committee on Finance of the 
Senate a report on activity with respect to the deduction for certain 
retreaded tires under section 199B of the Internal Revenue Code of 1986 
(as added by section 2).
    (b) Report Contents.--The report submitted under subsection (a) 
shall contain information with respect to the following:
            (1) The number of times the deduction was claimed.
            (2) The number of retreaded tires built as a result of the 
        deduction.
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