H.R.4640 - Future Fuels Act

To reduce the Nation's oil dependence and enhance the Nation's ability to produce alternative fuels. view all titles (2)

All Bill Titles

  • Short: Future Fuels Act as introduced.
  • Official: To reduce the Nation's oil dependence and enhance the Nation's ability to produce alternative fuels. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
12/18/05
 
 
 
 
 
 
 

Official Summary

Future Fuels Act - Amends the Internal Revenue Code to set forth an investment credit for eligible manufacturers for an advanced technology motor vehicle. Amends federal transportation law to revise the fuel economy calculations for manufacturing incentives for dual fueled and gaseous fuel

Official Summary

Future Fuels Act - Amends the Internal Revenue Code to set forth an investment credit for eligible manufacturers for an advanced technology motor vehicle. Amends federal transportation law to revise the fuel economy calculations for manufacturing incentives for dual fueled and gaseous fuel dedicated automobiles. Sets forth a calendar schedule for an increased percentage of alternative fueled automobiles or flexible fuel vehicles. Instructs the Secretary of Transportation (Secretary) to:
(1) establish an incentives program for insurance providers to sell automobile insurance policies on a per-mile basis;
(2) designate, in urbanized areas, at least 20 transit-oriented development corridors by 2015, and 50 transit-oriented development corridors by 2025;
(3) award transit grants to construct or improve transit facilities, bicycle transportation facilities, and pedestrian walkways in transit-oriented development corridors, including capital projects; and
(4) establish a transit-oriented development corridors research and development program for best practices and performance criteria for transit-oriented development corridors. Directs the Secretary to develop and carry out a national tire fuel efficiency program for tires designed for use on passenger cars and light trucks.

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