,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #caia  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #e1 #bjbe,mr4    
,huiz5ga introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to all[ an above-!-l9e   
d$uction = qualifi$ motor vehicle       
int]e/1 & = o!r purposes4  #a4 ,%ort    
title  ,?is ,act may be cit$ z ! ,made 9
 ,am]ica ,motors ,act4  #b4 ,d$uction = 
qualifi$ motor vehicle int]e/  7a7 ,9   
g5]al ,"p ,,vii ( sub*apt] ,b ( *apt] #a
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by r$esignat+ section #bbd z      
section #bbe & by ins]t+ aft] section   
#bbc ! foll[+ new section3  #bbd4       
,d$uction = motor vehicle int]e/  7a7   
,all[ance ( d$uction ,9 ! case ( an     
individual1 !re %all be all[$ z a       
d$uction an am\nt equal to ! int]e/ paid
 by ! taxpay] dur+ ! taxable ye> on any 
qualifi$ motor vehicle int]e/4  7b7     
,maximum d$uction ,! am\nt all[$ z a    
d$uction "u subsection 7a7 %all n exce$ 

#b1ejj4  7c7 ,d5ial ( d\ble b5efit ,no  
d$uction %all be all[$ "u ?is section = 
any int]e/ ) respect to :i* a d$uction  
is all[able "u any o!r provision ( ?is  
*apt]4  7d7 ,qualifi$ motor vehicle     
int]e/ ,= purposes ( ?is section1 ! t]m 
qualifi$ motor vehicle int]e/ means any 
indebt$ness-- 7#a7 incurr$ on or aft]   
,janu>y #a1 #bjbe1  7#b7 incurr$ 9      
acquir+ a qualifi$ motor vehicle1 &     
7#c7 secur$ by su* motor vehicle4  7e7  
,qualifi$ motor vehicle ,= purposes (   
?is section1 ! t]m #8qualifi$ motor     
vehicle' means-- 7#a7 any vehicle :i* is
 manufactur$ prim>ily = use on public   
/reets1 roads1 & highways 7n includ+ a  
vehicle op]at$ exclusively on a rail or 
rails7 & :i* has at lea/ #d :eels1  7#b7
 :i* has a gross vehicle weight rat+ (  
less ?an #ad1jjj p\nds1  7#c7 :i* is    
made by a manufactur] 7)9 ! mean+ giv5 !
 t]m 9 section #ajb ( ! ,national       
,traffic & ,motor ,vehicle ,safety ,act 
7#di ,u4,s4,c4 #cjajb771 &  7#d7 ! f9al 
assembly ( :i* occurs )9 ! ,unit$       

,/ates4  7f7 ,f9al assembly ,= purposes 
( subsection 7d71 ! t]m #8f9al assembly'
 means ! process by :i* a manufactur]   
produces a motor vehicle at1 or ?r\gh ! 
use (1 a plant1 factory1 or o!r place f 
:i* ! motor vehicle is deliv]$ to a     
deal] ) all compon5t p>ts necess>y = !  
me*anical op]ation ( ! motor vehicle    
includ$ ) ! motor vehicle1 :e!r or n !  
compon5t p>ts are p]man5tly in/all$ 9 or
 on ! motor vehicle4  4  7b7 ,d$uction  
all[$ :e!r or n individual itemizes o!r 
d$uctions ,section #fb7;a7 ( su* ,code  
is am5d$ by ins]t+ aft] p>agraph 7#ba7 !
 foll[+ new p>agraph3  7#bb7 ,motor     
vehicle int]e/ ,! d$uction all[$ by     
section #bbd4  4  7c7 ,cl]ical am5dm5t  
,! table ( sections = "p ,,vii (        
sub*apt] ,b ( *apt] #a ( su* ,code is   
am5d$ by r$esignat+ ! item relat+ to    
section #bbd z an item relat+ to section
 #bbe & by ins]t+ aft] ! item relat+ to 
section #bbc ! foll[+ new item3  ,sec4  
#bbd4 ,d$uction = motor vehicle int]e/4 
4  7d7 ,effective date ,! am5dm5ts made 

by ?is section %all apply to taxable    
ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4