The Energy Tax Incentives Act of 2005, passed as part of the 2005 Energy Act and signed by President Bush on Aug. 8, 2005, includes a series of new credits aimed at encouraging the purchase of various types of new alternative fuel vehicles.
The credits are available for vehicles placed in service starting Jan. 1, 2006. The credits have different sunset dates, but last at least through 2009. The existing deduction for clean-fuel vehicles, including hybrid vehicles, will expire at the end of 2005.
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