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IRS Announces Rule Changes for Energy Tax Credit
In response to suggestions by NAHB, the IRS has announced plans to publish new guidance updating the regulatory rules for the energy-efficient home tax credit program (Section 45L).
The association supports the program — which provides $2,000 tax credits for the construction and sale of homes achieving a 50% reduction in their energy consumption — as a useful incentive to increase the number of energy-efficient homes in the nation’s housing stock without relying upon mandates.
The new IRS guidance (Notice 2008-35) clarifies that homes used for rental purposes qualify for the tax credit. The guidance also notes that homes built by a third-party contractor and sold to a home owner or leased to a tenant qualify.
In its guidance, the IRS has followed an NAHB recommendation to expand the eligible tax credit raters used to determine the energy-efficiency of new homes by allowing certain state energy agencies to serve as an “equivalent rating network.” This change will increase the number of tax credit raters, reducing the administrative costs of the program for builders and home buyers.
Other changes made to the certification process — including allowing Energy Star sampling for larger builders — will increase the effectiveness of the program.
NAHB will continue to review the new rules and is advocating an extension of the tax credit program, which is scheduled to expire at the end of this year, as part of any future energy package enacted by Congress.
To read NAHB’s recommendations to the IRS, click here and click here.
For more information, e-mail Robert Dietz at NAHB, or call him at 800-368-5242 x8285; or contact Elizabeth Odina, x8570.
 Take the Lead on Green Building
Register now for the 2008 National Green Building Conference, held May 11-13 in New Orleans. Get contacts, tools and ideas that are good for both the environment and your bottom line.
The National Green Building Conference is the only national conference targeted to green building for the mainstream residential building industry. Network with designers and suppliers, attend exceptional education sessions and develop the skills you need for profitable green building.
For information and to register, visit www.nahb.org/greenbuildingconference, call 800-368-5242 x8338 or e-mail registrar@nahb.com.
 Earn NAHB’s New Green Designation at the National Green Building Conference
The Certified Green Professional (CGP) designation teaches builders, remodelers and other industry professionals techniques for incorporating green building principles into homes using cost-effective and affordable options.
Both required courses for the CGP will be held at the National Green Building Conference, May 11-13 in New Orleans.
For more information, visit www.nahb.org/GreenBuildingConference.
‘Building Greener Neighborhoods’ Available at BuilderBooks.com
“Building Greener Neighborhoods,” available through Digital Delivery at BuilderBooks.com, shows those involved in building new communities the advantages and rewards of saving, planting and transplanting more trees in their developments.
The examples are drawn from decades of experience of land developers, home builders and urban foresters.
To download this publication in a PDF format, click here, or call 800-223-2665.
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