Section 18Sec./Art. 18

Section 149 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:

"Section 149. Automobiles. - There shall be levied, assessed and collected an ad valorem tax on automobiles based on the manufacturer's or importer's selling price, net of excise and value-added tax, in accordance with the following schedule:

x x x

Provided, That hybrid vehicles shall be subject to fifty percent (50%) of the applicable excise tax rates on automobiles under this section: Provided, further, That purely electric vehicles shall be exempt from excise tax on automobiles.

x x x."