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Decision on Home-Energy Efficiency Tax Credits Delayed in the Senate

A conference committee finished hammering out differences between separate versions of energy legislation passed by the two chambers, and the House on Nov. 18 approved H.R. 6, the final conference report for the “Energy Policy Act of 2003.”

However, the next day, the Senate fell just three votes short of the 60 needed to cut off debate and proceed to a vote on the measure.

With Senators focused on debating Medicare legislation and rushing to adjourn for Thanksgiving, GOP leaders elected to postpone further consideration of the energy bill this year.

Senate Majority Leader Bill Frist (R-TN) indicated that he will seek another vote for the bill after Congress returns in January.

“The housing provisions in H.R. 6 contain key home energy tax provisions originally introduced by Rep. Jerry Weller (R-IL), with some modifications, that would provide powerful incentives for millions of home owners and renters to save hundreds of dollars annually in utility costs and allow builders to invest in market- and technology-driven initiatives that would promote higher levels of energy efficiency at more reasonable costs,” said Jerry Howard, executive vice president and CEO of NAHB. “We encourage the Senate to follow suit and pass this landmark bill.”

The comprehensive measure would provide:

• A $1,000 tax credit to builders for the construction of a new home that is at least 30% more energy-efficient than a home built under the 2000 International Energy Conservation Code. The tax credit jumps to $2,000 for homes built at least 50% above the 2000 IECC.
• A consumer tax credit up to $2,000 for 20% of the cost of a qualified remodeling project that improves energy efficiency in an existing home. Eligible improvements must meet prescriptive criteria in the 2000 IECC.
• A $1.50 per square foot commercial property deduction for rental housing four stories and higher that is at least 50% more efficient than buildings constructed to the American Society of Heating, Refrigerating and Air-Conditioning Engineers 90.1-2001 standard.

“H.R. 6 represents a major step forward in promoting energy conservation in new and existing homes, reducing the nation’s energy dependence and lowering energy costs for American consumers for decades,” said Howard.

To read the legislation, click here and enter H.R. 6 in the box at the upper left.

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