Automotive Fuel Vehicles :: essays research papers

INCENTIVES AND LAWSThe main national incentives for the purchase or conversion of individual alternative fuel vehicles (AFVs) ar the federal income impose deductions of $2,000-$50,000 for discase fuel vehicles, and the income tax credit of up to $4,000 for electric vehicles (EVs). An income tax deduction is also available for the installation of refueling or recharging facilities for AFVs. shut out for the federal tax credits and deductions, most of the federal incentives are programmatic grants oriented toward large investments such as infrastructure and larger purchases. The lead federal agencies for AFV programs are the U.S. Department of Treasury (i.e., IRS), the U.S. Department of Energy (DOE), the U.S. Department of Transportation (DOT), and the U.S. Environmental Protection Agency (EPA).Federal Tax Deduction This is a deduction for clean fuel vehicles and certain refueling properties. A tax deduction for the purchase of a new original equipment manufacturer (OEM) qualifi ed clean fuel vehicle, or for the conversion of a vehicle to workout a clean-burning fuel, is provided under the Energy Policy practise of 1992 (EPAct), Public Law-102-486, Title XIX-Revenue Provisions, Sec. 179A.Electric Vehicle Tax Credit.A tax credit for the purchase of qualified EVs and hybrid electric vehicles (HEVs) is provided under EPAct Public Law-102-486, . The size of the credit is 10% of the cost of the vehicle, up to a maximum credit of $4,000. Beginning in 2001, the size of the credit is reduced by 25% per year until the credit is fully phased out. To qualify for the credit, the vehicle must be provide primarily by an electric motor.Clean Cities Program DOEs Clean Cities Program coordinates voluntary efforts between locally based government and industry to accelerate the use of alternative fuels and expand AFV refueling infrastructure.Federal Incentives EPAct establishes an incentive program for the purchase of AFVs and conversion of conventional gasoline vehicles t o alternative fuels. Through federal tax incentives, companies and common soldier individuals can offset a portion of the incremental costs associated with the purchase or conversion of an AFV.Clean Air Act Amendments of 1990 The Clean Air Act (CAA) was passed in 1970 to improve air quality nationwide. Congress amended the law in 1990, passing the Clean Air Act Amendments of 1990 (CAAA) and thus creating several initiatives to reward one of the original goals of the CAA to reduce mobile source pollutants.