U.S. Legislative Updates

The U.S. Internal Revenue Service (IRS) has issued a revenue procedure (Revenue Procedure 2012-13) which provides: (1) the maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2012 for which the vehicle cents-per-mile valuation rule for computing personal use is $15,900 for a passenger automobile and $16,700 for a truck or van; (2) the maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2012 for which the fleet-average valuation rule may be applicable is $21,100 for a passenger automobile and $21,900 for a truck or van.

The National Highway Traffic Safety Administration (NHTSA) has closed its safety defect investigation regarding the potential risk of fire in Chevy Volts that have been involved in a serious crash. Opened on November 25, the agency’s investigation has concluded that no discernible defect trend exists and that the vehicle modifications recently developed by General Motors reduce the potential for battery intrusion resulting from side impacts. According to NHTSA, the agency "remains unaware of any real-world crashes that have resulted in a battery-related fire involving the Chevy Volt or any other electric vehicle. NHTSA continues to believe that electric vehicles show great promise as a safe and fuel-efficient option for American drivers. However, as the reports released in conjunction with the closure of the investigation today indicate, fires following NHTSA crash tests of the vehicle and its battery components — and the innovative nature of this emerging technology — led the agency to take the unusual step of opening a safety defect investigation in the absence of data from real-world incidents."

For additional information from NHTSA on the Volt investigation, visit www.SaferCar.gov

The House Transportation and Infrastructure Committee approved legislation to reauthorize the federal highway program. H.R. 7, The American Energy & Infrastructure Jobs Act, is a House-led initiative to reauthorize and reform surface transportation programs for five years, improve the nation’s infrastructure, remove barriers to domestic energy production, and create jobs. The legislation was introduced in the House by Transportation and Infrastructure Committee Chairman John L. Mica and Highways and Transit Subcommittee Chairman John J. Duncan, Jr. on January 31, 2012.