Bill proposes tax credit for bus, truck safety systems

WASHINGTON, D.C. — In an effort to reduce the number of crashes involving heavy-duty vehicles as well as the resulting injuries, fatalities and costs...

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October 18, 2007

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WASHINGTON, D.C. — In an effort to reduce the number of crashes involving heavy-duty vehicles as well as the resulting injuries, fatalities and costs, Rep. Mike Thompson (D-Calif.) and Rep. Ron Lewis (R-Ky.) have introduced legislation that would create a tax incentive for owners to install advanced safety systems on large buses and trucks.

The Commercial Motor Vehicle Advanced Safety Technology Tax Act (HR 3820) would make large bus and truck owners, as well as manufacturers of school and transit buses, eligible for a tax credit when they purchase and install brake stroke monitoring, lane departure monitoring, collision warning or vehicle stability systems.

Owners of vehicle fleets would be eligible for a maximum credit of $350,000 per year. Manufacturers that sell large buses or trucks to nonprofit entities, like schools or city transit authorities, would be eligible for the tax credit if they install the systems prior to vehicle delivery.

Topics:Safety

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