H.R. 616 · 119th Congress
To amend the Internal Revenue Code of 1986 to double the dollar limitation for the energy efficient home…
Full title
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.
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D
GottheimerSponsorNo cosponsors.
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.
What it does: CRS summary · Introduced in House · Jan 22, 2025
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 nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: 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.
Latest action (Jan 22, 2025): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 22, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.