Reps. Mike Thompson (D-Calif.) and Geoff Davis (R-Ky.) last week re-introduced the Commercial Motor Vehicle Advanced Safety Technology Tax Act of 2009 (H.R. 2024)
The measure would provide tax credits to help speed the adoption of advanced safety systems for commercial vehicles. The bill includes the following technologies: electronic brake stroke monitoring systems: vehicle stability systems (electronic stability control and roll stability control) lane departure warning systems (with blind spot detection); and collision warning systems (with adaptive cruise control).
The legislation will encompass both the original equipment (OE) and aftermarket installation of these safety systems. It also would:
* create a tax credit for fleet owners, valued at 50 percent of the retail cost of the system with a maximum of $1,500 per technology;
* allow fleets to purchase multiple technologies, but limit the total amount of credit permissible to $3,500 per vehicle.
* allow the overall tax credit for each truck owner or trucking company of up to $350,000 per year for all covered technology purchases.
The bill also would allow for the Federal Motor Carrier Safety Administration or National Highway Traffic Safety Administration to add qualified safety systems to the list eligible for this tax incentive. On of the bill's cosponsors, David Dreier (D-Calif.), would like to see GPS navigation technology added to the list, and has written letters to the FMCSA and NHTSA urging the agencies to expedite the study of the effectiveness of navigation devices for trucks.
The Motor & Equipment Manufacturers Association (MEMA) and its heavy duty affiliate association, the Heavy Duty Manufacturers Association (HDMA), praised the bill.
"These tax credits will provide the necessary incentive for heavy duty vehicle operators, especially those that are small to medium-sized companies and independent owner operators to purchase and install these safety-enhancing technologies in order to protect against traffic fatalities and injuries," said Tim Kraus, HDMA's president and chief operating officer.
Kraus noted that a 2006 study released by the National Highway Traffic Safety Administration and the Federal Motor Carrier Safety Administration identified specific causes for heavy vehicle crashes. The study found that rear end collisions, side swipe accidents, running off the road or out of the lane, and brake problems account for more than 60 percent of the total large vehicle accidents. Kraus also noted that heavy duty vehicle suppliers are currently manufacturing technologies that address these specific types of accidents.
The measure would provide tax credits to help speed the adoption of advanced safety systems for commercial vehicles. The bill includes the following technologies: electronic brake stroke monitoring systems: vehicle stability systems (electronic stability control and roll stability control) lane departure warning systems (with blind spot detection); and collision warning systems (with adaptive cruise control).
The legislation will encompass both the original equipment (OE) and aftermarket installation of these safety systems. It also would:
* create a tax credit for fleet owners, valued at 50 percent of the retail cost of the system with a maximum of $1,500 per technology;
* allow fleets to purchase multiple technologies, but limit the total amount of credit permissible to $3,500 per vehicle.
* allow the overall tax credit for each truck owner or trucking company of up to $350,000 per year for all covered technology purchases.
The bill also would allow for the Federal Motor Carrier Safety Administration or National Highway Traffic Safety Administration to add qualified safety systems to the list eligible for this tax incentive. On of the bill's cosponsors, David Dreier (D-Calif.), would like to see GPS navigation technology added to the list, and has written letters to the FMCSA and NHTSA urging the agencies to expedite the study of the effectiveness of navigation devices for trucks.
The Motor & Equipment Manufacturers Association (MEMA) and its heavy duty affiliate association, the Heavy Duty Manufacturers Association (HDMA), praised the bill.
"These tax credits will provide the necessary incentive for heavy duty vehicle operators, especially those that are small to medium-sized companies and independent owner operators to purchase and install these safety-enhancing technologies in order to protect against traffic fatalities and injuries," said Tim Kraus, HDMA's president and chief operating officer.
Kraus noted that a 2006 study released by the National Highway Traffic Safety Administration and the Federal Motor Carrier Safety Administration identified specific causes for heavy vehicle crashes. The study found that rear end collisions, side swipe accidents, running off the road or out of the lane, and brake problems account for more than 60 percent of the total large vehicle accidents. Kraus also noted that heavy duty vehicle suppliers are currently manufacturing technologies that address these specific types of accidents.
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