Amends the Internal Revenue Code to revise the definition of "passenger automobile" for purposes of the limitation on depreciation for luxury automobiles to mean any four-wheeled vehicle which is: (1) primarily designed or used to carry passengers over public streets, roads, or highways; and (2) rated at 14,000 pounds unloaded gross vehicle weight or less. Adds an exemption from such definition for certain vehicles with open cargo areas which are designed for more than nine individuals in seating rearward of the driver's seat.