12 2 STA T .38 3 5PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 2008 (1)INGE NE RAL.—Subsection ( d )o f section 642 6 ,a s a m ended b y subsection (a), is amended by r edesi g nating p ara - grap h (4) as paragraph ( 5 ) and by inserting after paragraph ( 3 )thefo l lo w ing new paragraph
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‘(4) C AR BO N C A PTU RE RE Q U I RE M ENT.— ‘‘( A ) IN GENERAL.— T he re q uirements of this paragraph are met if the fuel is certified, under such procedures as required by the Secretary, as ha v ing been derived from coal produced at a gasification facility which separates and sequesters not less than the applicable percentage of such facility ’ s total carbon dio x ide emissions. ‘‘( B ) APPLICABLE PERCENTAGE.— F or purposes of subparagraph (A), the applicable percentage is— ‘‘(i) 5 0 percent in the case of fuel produced after September 30, 200 9 , and on or before D ecember 30, 2009, and ‘‘(ii) 7 5 percent in the case of fuel produced after December 30, 2009.’’. (2) CON F ORMING AMEN D MENT.—Subparagraph ( E ) of section 6426(d)(2) is amended by inserting ‘‘which meets the require- ments of paragraph (4) and which is’’ after ‘‘any liquid fuel’’. (d) EFFECTI V E DATE.—The amendments made by this section shall apply to fuel sold or used after the date of the enactment of this Act. SEC.205 . C R E DITFO R N E WQUAL IFIED P LU G- IN ELECTRIC DRI V E M OTOR VE H ICLES. (a) P LUG-IN ELECTRIC DRIVE M OTOR V E H ICLE CREDIT.—Subpart B of part IV of subchapter A of chapter 1 (relating to other credits) is amended by adding at the end the following new section: ‘ ‘SEC. 3 0D. NEW QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR VEHICLES. ‘‘(a) ALLO W ANCE OF CREDIT.— ‘‘(1) IN GENERAL.—There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the applicable amount with respect to each new quali- fied plug-in electric drive motor vehicle placed in service by the taxpayer during the taxable year. ‘‘(2) APPLICABLE AMOUNT.—For purposes of paragraph (1), the applicable amount is sum of— ‘‘(A) $ 2,500, plus ‘‘(B) $417 for each k ilowatt hour of traction battery capacity in excess of 4 kilowatt hours. ‘‘(b) L IMITATION S .— ‘‘(1) LIMITATION BASED ON WEIGHT.—The amount of the credit allowed under subsection (a) by reason of subsection (a)(2) shall not exceed— ‘‘(A) $7,500, in the case of any new qualified plug- in electric drive motor vehicle with a gross vehicle weight rating of not more than 10,000 pounds, ‘‘(B) $10,000, in the case of any new qualified plug- in electric drive motor vehicle with a gross vehicle weight rating of more than 10,000 pounds but not more than 14,000 pounds, ‘‘(C) $12,500, in the case of any new qualified plug- in electric drive motor vehicle with a gross vehicle weight 26USC 6 4 26 note. 26 USC 6426. Ce r t if i ca tion.
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