,,ii  #aai? ,,congress  #a/ ,session    
,s4 #afec  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #g1 #bjbe,mr4     
,mor5o introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to all[ a d$uction
 = qualifi$ automobile int]e/4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,unit$ ,/ates ,automobile ,consum]      
,assi/ance & ,relief ,act or ! ,,usa    
,,c> ,act4  #b4 ,d$uction = qualifi$    
automobile int]e/  7a7 ,9 g5]al ,section
 #afc7;h77#b7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by /rik+ & at ! end ( 
subp>agraph 7,e71 by /rik+ ! p]iod at ! 
end ( subp>agraph 7,f7 & ins]t+ 1 &1 &  
by add+ at ! end ! foll[+ new           
subp>agraph3  7,g7 any qualifi$         
automobile int]e/ 7z def9$ 9 p>agraph   
7#e774  4  7b7 ,qualifi$ automobile     
int]e/ ,section #afc7;h7 is am5d$ by    
add+ at ! end ! foll[+ new p>agraph3    
7#e7 ,qualifi$ automobile int]e/ ,=     
purposes ( ?is subsection-- 7,a7 ,9     

g5]al ,! t]m qualifi$ automobile int]e/ 
means any int]e/ :i* is paid or accru$  
dur+ ! taxable ye> on indebt$ness :i*-- 
7i7 is incurr$ on or aft] ,janu>y #a1   
#bjbe1  7ii7 is incurr$ 9 acquir+ a     
qualifi$ automobile1 &  7iii7 is secur$ 
by su* automobile4  7,b7 ,qualifi$      
automobile  7i7 ,9 g5]al ,! t]m qualifi$
 automobile means an automobile 7)9 !   
mean ( section #b ( ! ,automobile       
,in=mation ,disclosure ,act 7#ae        
,u4,s4,c4 #abca77 :i* is made by a      
manufactur] 7)9 ! mean+ ( section #b (  
su* ,act7 ! f9al assembly ( :i* occurs  
)9 ! ,unit$ ,/ates4  7ii7 ,f9al assembly
 ,! t]m f9al assembly means ! process by
 :i* a manufactur] produc$ an automobile
 at1 or ?r\gh ! use (1 a plant1 factory1
 or o!r place f :i* ! automobile is     
deliv]$ to a deal] ) all compon5t p>ts  
necess>y = ! me*anical op]ation ( !     
automobile includ$ ) ! automobile1 :e!r 
or n ! compon5t p>ts are p]man5tly      
in/all$ 9 or on ! automobile4  4  7c7   
,d$uction all[$ above-!-,l9e ,section   

#fb7;a7 ( ! ,int]nal ,rev5ue ,code (    
#aihf is am5d$ by ins]t+ aft] p>agraph  
7#ba7 ! foll[+ new p>agraph3  7#bb7 ,9 !
 case ( a taxpay] o!r ?an a corporation1
 s mu* ( ! d$uction all[$ "u section    
#afc :i* is attributable to qualifi$    
automobile int]e/ 7z def9$ 9 section    
#afc7;h77#e774  4  7d7 ,effective date  
,! am5dm5ts made by ?is section %all    
apply to am\nts paid or accru$ on       
indebt$ness incurr$ on or aft] ! date ( 
! enactm5t ( ?is ,act4