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November 20, 2007
Boise, Idaho – November 20, 2007 – H.R. 3820 is the newly introduced legislation providing a 50% tax
credit toward the cost of a qualified commercial vehicle safety system. Preco Electronics is proud to voice support for the newly proposed commercial vehicle safety tax incentive legislation. The Commercial Motor Vehicle Advanced Safety Technology Act of 2007 (H.R. 3820) proposes a tax credit equal to 50 percent of the cost of any qualified commercial vehicle safety system placed into service during the tax year. The bill includes collision warning systems, brake monitoring systems, lane departure warning systems, and vehicle stability systems as technologies that have the potential to improve overall highway safety. These tax savings can benefit all companies involved in heavy equipment manufacturing and operation if they implement one or more of the active safety solutions currently available. This should lead to some significant statistical reduction in the number of accidents nationwide and hopefully save lives in the heavy equipment industry.
“The Commercial Motor Vehicle Advanced Safety Technology Act, if passed, will be a critical leap toward making heavy equipment safety technologies more affordable and better known,” said Jim Bean, President and CEO of Preco Electronics. “Preco has a long term commitment to enhanced safety and reduced costs in the heavy equipment industry. The H.R. 3820 bill will go a long way toward both of those objectives.”
H.R. 3820 was sponsored by Congressman Mike Thompson (D-Calif.), and co-sponsored by Congressman Peter DeFazio (D – Ore.), Congressman Steven C. LaTourette (R – Ohio), Congressman Sander Levin (D – Mich.), Congressman Ron Lewis (R – Ky.), Congressman Mike Rogers (R – Mich.), Congressman Heath Shuler (D – N.C.), and Congresswoman Ellen Tauscher (D – Calif.). More information about the bill and the Preco position on heavy equipment safety is found at www.preco.com.
About Preco Electronics Inc.
Preco Electronics has been in business for over 60 years. Recognized and accepted as a high quality, dependable designer, manufacturer, and supplier of integrated safety solutions by the heavy equipment industries, including Mining, Construction, Waste, Concrete, Utility, and Transit, Preco is committed to reducing costs and helping save lives. Today, Preco's strong heritage brings a unique blend of high quality engineering and manufacturing of rugged products for work-site safety as well as leading edge technology solutions that solve business issues in the heavy equipment industries.
Preco Electronics Inc. is headquartered in Boise, Idaho, with manufacturing and supply chain distribution through several dependable worldwide partners. For more information, call 1-800-453-1141 or visit www.preco.com.
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