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Q: SECTION 1. CREDIT FOR NEW QUALIFIED PLUG-IN HYBRID MOTOR VEHICLES.

(a) In General.--Subparagraph (A) of section 30B(d)(2) of the
Internal Revenue Code of 1986 (relating to credit amount for passenger
automobiles and light trucks) is amended to read as follows:
''(A) Credit amount for passenger automobiles and
light trucks.--
''(i) In general.--In the case of a new
qualified hybrid motor vehicle (other than a
new qualified plug-in hybrid motor vehicle)
which is a passenger automobile or light truck
and which has a gross vehicle weight rating of
not more than 8,500 pounds, the amount
determined under this paragraph is the sum of
the amounts determined under subclauses (I) and
(II).
''(I) Fuel economy.--The amount
determined under this subclause is the
amount which would be determined under
subsection (c)(2)(A) if such vehicle
were a vehicle referred to in such
subsection.
''(II) Conservation credit.--The
amount determined under this subclause
is the amount which would be determined
under subsection (c)(2)(B) if such
vehicle were a vehicle referred to in
such subsection.
''(ii) New qualified plug-in hybrid motor
vehicles.--In the case of a new qualified plug-
in hybrid motor vehicle which is a passenger
automobile or light truck and which has a gross
vehicle weight rating of not more than 8,500
pounds, the amount determined under this
paragraph is the sum of the amounts determined
under subclauses (I), (II), and (III).
''(I) Base amount.--The amount
determined under this subclause is
$3,000.
''(II) Flexible fuel.--In the case
of a vehicle which is warrantied by its
manufacturer to operate on a fuel
described in section 30C(c)(1)(A), the
amount determined under this subclause
is $150.
''(III) Power of traction
battery.--In the case of vehicle which
draws propulsion energy from a traction
battery of not less than 5 kWh, the
amount determined under this subclause
is $500, plus $250 for each kWh that
such battery exceeds 5 kWh. The amount
determined under this subclause shall
not exceed $3,000.''.
(b) New Qualified Plug-In Hybrid Motor Vehicle.--Subsection (d) of
section 30B of such Code is amended by adding at the end the following
new paragraph:
''(4) New qualified plug-in hybrid motor vehicle.--For
purposes of this subsection, the term 'new qualified plug-in
hybrid motor vehicle' means any new qualified hybrid motor
vehicle which--
''(A) meets or exceeds the Bin 5 Tier II emission
standard established in regulations prescribed by the
Administrator of the Environmental Protection Agency
under section 202(i) of the Clean Air Act for that make
and model year vehicle,
''(B) draws propulsion energy from a traction
battery of not less than 4 kWh, and
''(C) is equipped with a means of recharging its
rechargeable energy storage system from an external
source of electricity.''.
(c) Application of Limitation on Number of Hybrids Eligible for
Credit.--
(1) In general.--Subsection (f) of section 30B of such Code
is amended by adding at the end the following new paragraph:
''(6) Separate application to new qualified plug-in hybrid
motor vehicles.--In the case of a new qualified plug-in hybrid
motor vehicle, this subsection shall be applied--
''(A) separately with respect to such vehicles by
treating only new qualified plug-in hybrid motor
vehicles as qualified vehicles,
''(B) by substituting '100,000' for '60,000' in
paragraph (2), and
''(C) by substituting 'the date of the enactment of
paragraph (6)' for 'December 31, 2005' in paragraph
(2).''.
(2) Conforming amendment.--Paragraph (5) of section 30B(f)
of such Code is amended by inserting ''other than a new
qualified plug-in hybrid motor vehicle'' after ''subsection
(d)(2)(A)''.
(d) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act, in taxable years ending after such date.
A:
Amends the Internal Revenue Code to allow an alternative motor vehicle tax credit for new qualified plug-in hybrid motor vehicles. Defines such a vehicle as any new qualified hybrid motor vehicle that: (1) is a passenger automobile or light truck with a gross vehicle weight rating of not more than 8,500 pounds; (2) meets or exceeds the Bin 5 Tier II emission standard established by the Environmental Protection Agency; (3) draws propulsion energy from a traction battery of not less than 4 kWh; and (4) is equipped with a means of recharging its energy storage system from an external source of electricity.