Automobile Efficiency Tax Incentive Act

[AI summary unavailable — showing source text] Automobile Efficiency Tax Incentive Act - Makes the qualified investment for purposes of the investment credit allowed under the Internal Revenue Code, with respect to automobile manufacturers, that percentage of the investment equalling the percentage of automobiles sold by the manufacturer with fuel consumption rates in excess of 20 miles per gallon. Specifies procedures for adjustments in the amount of qualified investment to reflect decreases in the percentage sales of automobiles with fuel consumption rates in excess of 20 miles per gallon and for changes in the status property for investment credit purposes. Directs the Administrator of the Environmental Protection Agency to determine the fuel consumption rate of each passenger automobile model manufactured, produced, or imported after the date of this Act; and specifies the conditions to be observed in making such determination.…