Official Summary

7/8/2009--Introduced.New Alternative Transportation to Give Americans Solutions - Amends the Internal Revenue Code to allow: (1) an excise tax credit through 2019 for alternative fuels and fuel mixtures involving compressed or liquefied natural gas; (2) an modified income tax credit throug

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Official Summary

7/8/2009--Introduced.New Alternative Transportation to Give Americans Solutions - Amends the Internal Revenue Code to allow:
(1) an excise tax credit through 2019 for alternative fuels and fuel mixtures involving compressed or liquefied natural gas;
(2) an modified income tax credit through 2019 for alternative fuel motor vehicles powered by compressed or liquefied natural gas;
(3) an offset against the alternative minimum tax (AMT) for tax credits for alternative fuel motor vehicles and refueling property and provide for the transferability of such credits;
(4) a tax credit through 2019 for investment in natural gas vehicle project bonds;
(5) expensing of property used to manufacture vehicles fueled by compressed or liquefied natural gas; and
(6) a tax credit through 2019 for alternative fuel vehicle refueling property relating to compressed or liquefied natural gas. Requires federal agencies to purchase dedicated alternative fuel vehicles for their fleets unless such agencies can show that alternative fuel is unavailable or purchasing such vehicles would be impractical. Authorizes the Secretary of Energy to make grants to manufacturers of light and heavy duty natural gas vehicles for the development of engines that reduce emissions, improve performance and efficiency, and lower cost. Expresses the sense of the Senate that the Environmental Protection Agency (EPA) should streamline the certification process for natural gas vehicle retrofit kits.

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