119th Congress Taxation
H.R. 616: To amend the Internal Revenue Code of 1986 to double the dollar limitation for the energy efficient home improvement credit with respect to heat pumps, heat pump water heaters, biomass stoves, and boilers.
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler.
Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, up to $1,200, for certain other eligible energy-efficient property such that some taxpayers may qualify for a maximum tax credit of $3,200.)
Written by the Congressional Research Service, Library of Congress.
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Other bills by Josh Gottheimer
History
- Introduced in the House by Josh Gottheimer.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.