Code Section 30C
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate ($millions) |
|---|---|---|---|---|
| 30C | 12/31/12011 | The American Taxpayer Relief Act of 2012 | Alternative fuel vehicle refueling property | -44 |
| 30C | 12/31/2010 | The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 | Alternative fuel vehicle refueling property | -16 |
| 30C | *12/31/2008 | The American Recovery and Reinvestment Act of 2009 (Public Law 111-5) | Temporary increase in credit for alternative fuel vehicle refueling property | -54 |
*Notes on Effective Date
The new 10-percent credit for low-speed vehicles, motorcycles, and three-wheeled vehicles is effective for vehicles acquired after February 17, 2009. The credit for converting a vehicle into a plugin electric drive motor vehicle is effective for property placed in service after February 17, 2009. The modification of the plug-in electric drive motor vehicle credit is effective for vehicles acquired after December 31, 2009. The allowance of the treatment of the alternative motor vehicle credit against the alternative minimum tax is effective for taxable years beginning after December 31, 2008.
Alternative fuel vehicle refueling property
Explanation of Provision
The provision extends for two years (through 2013) the 30-percent credit for alternative fuel refueling property (other than hydrogen refueling property, the credit for which continues under present law through 2014).
Alternative fuel vehicle refueling property
Explanation of Provision
The provision extends through 2011 the 30-percent credit for alternative fuel refueling property (other than hydrogen refueling property, the credit for which continues under present law through 2014), subject to the pre-2009 maximum credit amounts.
Temporary increase in credit for alternative fuel vehicle refueling property
Explanation of Provision240
For property placed in service in 2009 or 2010, the provision increases the maximum credit available for business property to $200,000 for qualified hydrogen refueling property and to $50,000 for other qualified refueling property. For nonbusiness property, the maximum credit is increased to $2,000. In addition, the credit rate is increased from 30 percent to 50 percent, except in the case of hydrogen refueling property.
240- The provision was subsequently amended by section 711 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub. L. No. 111–312, described in Part Sixteen of this document.
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