SECTION 3. SCOPE AND OBJECTIVE

The limitations on depreciation deductions in section 4.02 of this revenue procedure apply to electric automobiles (other than leased electric automobiles) that are placed in service after August 5, 1997, and before January 1, 1998, and continue to apply for each tax year that the automobile remains in service.

The table in section 4.03 of this revenue procedure applies to leased electric automobiles for which the lease term begins after August 5, 1997, and before January 1, 1998. Lessees of such automobiles must use this table to determine the inclusion amount for each tax year during which the automobile is leased.

See Rev. Proc. 96–25, 1996–1 C.B. 681, for depreciation limitations and income inclusion amounts for electric automobiles first purchased or leased before January 1, 1997, and Rev. Proc. 97–20, 1997–11 I.R.B. 10, for depreciation limitations and income inclusion amounts for electric automobiles first purchased or leased on or after January 1, 1997, and before August 6, 1997.