Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Credit for New Cars Act of 2009''.

SEC. 2. CREDIT FOR NEW MOTOR VEHICLE PURCHASES.

(a) In General.--Subpart B of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to other credits) is
amended by adding at the end the following new section:

''SEC. 30E. NEW MOTOR VEHICLES.

''(a) Allowance of Credit.--There shall be allowed as a credit
against the tax imposed by this chapter for the taxable year an amount
equal to $3,000 with respect to each qualified motor vehicle placed in
service by the taxpayer during the taxable year.
''(b) Limitation on Value of Vehicles Taken Into Account.--No
credit shall be allowed under subsection (a) with respect to any
vehicle the fair market value of which equals or exceeds $40,000
(determined immediately before such vehicle is placed in service by the
taxpayer).
''(c) Limitations With Respect to Business Credit.--
''(1) 50 percent of credit allowed.--50 percent of so much
of the credit which would be allowed under subsection (a) for
any taxable year (determined without regard to this subsection)
that is attributable to qualfied motor vehicles of a character
subject to an allowance for depreciation shall be treated as a
credit listed in section 38(b) for such taxable year (and not
allowed under subsection (a)).
''(2) Not more than 2 vehicles taken into account.--Not
more than 2 qualified motor vehicles may be taken into account
under paragraph (1).
''(3) Aggregation rule.--All persons treated as a single
employer under subsection (a) or (b) of section 52, or
subsection (m) or (o) of section 414, shall be treated as one
person for purposes of the credit determined under this
subsection.
''(d) Personal Credit.--
''(1) In general.--For purposes of this title, the credit
allowed under subsection (a) for any taxable year (determined
without regard ot any qualified motor vehicle of a character
subject to an allowance for depreciation) shall be treated as a
credit allowable under subpart A for such taxable year.
''(2) Limitation based on amount of tax.--In the case of a
taxable year to which section 26(a)(2) does not apply, the
credit allowed under subsection (a) for any taxable year
(determined without regard ot any qualified motor vehicle of a
character subject to an allowance for depreciation) shall not
exceed the excess of--
''(A) the sum of the regular tax liability (as
defined in section 26(b)) plus the tax imposed by
section 55, over
''(B) the sum of the credits allowable under
subpart A (other than this section and sections 23,
25D, 30, and 30D) and section 27 for the taxable year.
''(e) Qualified Motor Vehicle.--For purposes of this section--
''(1) In general.--The term 'qualified motor vehicle' means
a motor vehicle--
''(A) the original use of which commences with the
taxpayer,
''(B) which is acquired for use or lease by the
taxpayer and not for resale, and
''(C) which is made by a manufacturer,
''(D) the final assembly of which is in the United
States,
''(E) which is treated as a motor vehicle for
purposes of title II of the Clean Air Act, and
''(F) which has a gross vehicle weight rating of
not more than 8,500 pounds.
''(2) Motor vehicle; manufacturer.--The terms 'motor
vehicle' and 'manufacturer' have the meaning given such terms
in section 30D(d).
''(f) Special Rules.--For purposes of this section--
''(1) Reduction in basis.--For purposes of this subtitle,
the basis of any property for which a credit is allowable under
subsection (a) shall be reduced by the amount of such credit so
allowed (determined without regard to subsections (c) and (d)).
''(2) No double benefit.--The amount of any deduction or
other credit allowable under this chapter for a qualified motor
vehicle shall be reduced by the amount of credit allowed under
subsection (a) for such vehicle (determined without regard to
subsections (c) and (d)).
''(3) Property used by tax-exempt entity.--In the case of a
vehicle the use of which is described in paragraph (3) or (4)
of section 50(b) and which is not subject to a lease, the
person who sold such vehicle to the person or entity using such
vehicle shall be treated as the taxpayer that placed such
vehicle 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 vehicle
(determined without regard to subsections (c) and (d)).
Property to which this paragraph applies shall be treated for
purposes of subsections (c) and (d) as property of a character
subject to an allowance for depreciation.
''(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).
''(5) Recapture.--The Secretary shall, by regulations,
provide for recapturing the benefit of any credit allowable
under subsection (a) with respect to any property which ceases
to be property eligible for such credit.
''(6) Election to not take credit.--No credit shall be
allowed under subsection (a) for any vehicle if the taxpayer
elects not to have this section apply to such vehicle.
''(7) Interaction with air quality and motor vehicle safety
standards.--Unless otherwise provided in this section, a motor
vehicle shall not be considered eligible for a credit under
this section unless such vehicle is in compliance with--
''(A) the applicable provisions of the Clean Air
Act for the applicable make and model year of the
vehicle (or applicable air quality provisions of State
law in the case of a State which has adopted such
provision under a waiver under section 209(b) of the
Clean Air Act), and
''(B) the motor vehicle safety provisions of
sections 30101 through 30169 of title 49, United States
Code.
''(g) Termination.--No credit shall be allowed under this section
with respect to any vehicle placed in service after December 31,
2009.''.
(b) Credit Made Part of General Business Credit.--Section 38(b) of
such Code is amended by striking ''plus'' at the end of paragraph (34),
by striking the period at the end of paragraph (35) and inserting '',
plus'', and by adding at the end the following new paragraph:
''(36) the portion of the new motor vehicle credit to which
section 30E(c) applies.''.
(c) Conforming Amendments.--
(1)(A) Section 24(b)(3)(B) of such Code is amended by
striking ''and 30D'' and inserting ''30D, and 30E''.
(B) Section 25(e)(1)(C)(ii) of such Code is amended by
inserting ''30E,'' after ''30D,''.
(C) Section 25B(g)(2) of such Code is amended by striking
''and 30D'' and inserting '', 30D, and 30E''.
(D) Section 26(a)(1) of such Code is amended by striking
''and 30D'' and inserting ''30D, and 30E''.
(E) Section 904(i) of such Code is amended by striking
''and 30D'' and inserting ''30D, and 30E''.
(F) Section 1400C(d)(2) of such Code is amended by striking
''and 30D'' and inserting ''30D, and 30E''.
(2) Section 1016(a) of such Code 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 30E(f)(1).''.
(3) Section 6501(m) of such Code is amended by inserting
''30E(f)(6),'' after ''30D(e)(4),''.
(4) The table of sections for subpart B of part IV of
subchapter A of chapter 1 of such Code is amended by adding at
the end the following new item:

''Sec. 30E. New motor vehicles.''.
(d) Effective Date.--The amendments made by this section shall
apply to vehicles acquired after December 31, 2008, in taxable years
ending after such date.
(e) Application of EGTRRA Sunset.--The amendment made by subsection
(c)(1)(A) shall be subject to title IX of the Economic Growth and Tax
Relief Reconciliation Act of 2001 in the same manner as the provision
of such Act to which such amendment relates.
Output:
Credit for New Cars Act of 2009 - Amends the Internal Revenue Code to allow a $3,000 tax credit for the purchase of a qualified motor vehicle through December 31, 2009. Defines "qualified motor vehicle" as a manufactured motor vehicle that complies with emission standards established by the Clean Air Act, that has a gross vehicle weight rating of not more than 8,500 pounds, and that is assembled in the United States. Disqualifies any vehicle that has a fair market value of $40,000 or more.