TEMPORARY INCREASE IN CREDIT FOR ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY.

SEC. 1123. TEMPORARY INCREASE IN CREDIT FOR ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY.(a) In General.—Section 30C(e) is amended by adding at the end the following new paragraph:“(6) Special rule for property placed in service during 2009 and 2010.—In the case of property placed in service in taxable years beginning after December 31, 2008, and before January 1, 2011—“(A) in the case of any such property which does not relate to hydrogen—“(i) subsection (a) shall be applied by substituting ‘50 percent’ for ‘30 percent’,“(ii) subsection (b)(1) shall be applied by substituting ‘$50,000’ for ‘$30,000’, and“(iii) subsection (b)(2) shall be applied by substituting ‘$2,000’ for ‘$1,000’, and“(B) in the case of any such property which relates to hydrogen, subsection (b)(1) shall be applied by substituting ‘$200,000’ for ‘$30,000’.”.(b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2008.