Sec. 103. Allowance of vehicle and infrastructure credits against regular and minimum tax and transferability of credits
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Subparagraph
(B)of section 38(c)(4) is amended by striking and at the end of clause (viii), by striking the period at the end of clause
(ix)and inserting a comma, and by inserting after clause
(ix)the following new clauses: the portion of the credit determined under section 30B which is attributable to the application of subsection (e)(3) thereof with respect to new qualified alternative fuel motor vehicles which are capable of being powered by compressed or liquefied natural gas, and the portion of the credit determined under section 30C which is attributable to the application of subsection
(b)thereof with respect to refueling property which is used to store and or dispense compressed or liquefied natural gas. . Subsection
(g)of section 30B is amended by adding at the end the following new paragraph: In the case of the portion of the credit determined under subsection
(a)which is attributable to the application of subsection (e)(3) with respect to new qualified alternative fuel motor vehicles which are capable of being powered by compressed or liquefied natural gas— paragraph
(2)shall (after the application of paragraph (1)) be applied separately with respect to such portion, and in lieu of the limitation determined under paragraph (2), such limitation shall not exceed the excess (if any) of— the sum of the regular tax liability (as defined in section 26(b)) plus the tentative minimum tax for the taxable year, reduced by the sum of the credits allowable under subpart A and sections 27 and 30. . Subsection
(d)of section 30C is amended by adding at the end the following new paragraph: In the case of the portion of the credit determined under subsection
(a)with respect to refueling property which is used to store and or dispense compressed or liquefied natural gas and which is attributable to the application of subsection (b)— paragraph
(2)shall (after the application of paragraph (1)) be applied separately with respect to such portion, and in lieu of the limitation determined under paragraph (2), such limitation shall not exceed the excess (if any) of— the sum of the regular tax liability (as defined in section 26(b)) plus the tentative minimum tax for the taxable year, reduced by the sum of the credits allowable under subpart A and sections 27, 30, and the portion of the credit determined under section 30B which is attributable to the application of subsection (e)(3) thereof. . Subsection
(h)of section 30B is amended by adding at the end the following new paragraph: Except as provided in subparagraph (B), a taxpayer who places in service any new qualified alternative fuel motor vehicle which is capable of being powered by compressed or liquefied natural gas may transfer the credit allowed under this section by reason of subsection
(e)with respect to such vehicle through an assignment to the manufacturer, seller or lessee of such vehicle. Such transfer may be revoked only with the consent of the Secretary. No assignment of a credit allowed under this section by reason of subsection
(e)with respect to any new qualified alternative fuel motor vehicle which is capable of being powered by compressed or liquefied natural gas may be made under subparagraph
(A)to a taxpayer who has claimed a credit under section 54G with respect to the financing of such vehicle. The Secretary shall prescribe such regulations as necessary to ensure that any credit transferred under subparagraph
(A)is claimed once and not reassigned by such other person. . Subsection
(e)of section 30C is amended by adding at the end the following new paragraph: Except as provided in subparagraph (B), a taxpayer who places in service any qualified alternative fuel vehicle refueling property relating to compressed or liquefied natural gas may transfer the credit allowed under this section with respect to such property through an assignment to the manufacturer, seller or lessee of such property. Such transfer may be revoked only with the consent of the Secretary. No assignment of a credit allowed under this section by reason of subsection
(e)with respect to any qualified alternative fuel vehicle refueling property relating to compressed or liquefied natural gas may be made under subparagraph
(A)to a taxpayer who has claimed a credit under section 54G with respect to the financing of such property. The Secretary shall prescribe such regulations as necessary to ensure that any credit transferred under subparagraph
(A)is claimed once and not reassigned by such other person. . The amendments made by this section shall apply with respect to property placed in service after the date of the enactment of this Act.