Proposal Would Extend Residential Energy Efficiency Tax Credit

Originally published by the following source: SBC MagazineDecember 13, 2019
by ABTG Staff

   

The U.S. House Ways and Means Committee issued a draft version of the GREEN Act. The bill extends and modifies several tax in addition to creating completely new deductions as well. Of note, is the bills extension of the §45L new energy efficient home credit through 2024. The draft legislation states:

“Starting in 2020, the provision expands the maximum credit for eligible new energy efficient homes from $2,000 to $2,500 and makes eligible units with energy expenditures at least 15% below the expenditures of a comparable unit based on the 2018 International Energy Conservation Code standards. It also replaces the eligibility requirements for units eligible for the $1,000 credit to correspond with the Energy Star Labeled Homes program.”

 

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