Bipartisan Home Energy Efficiency Bill Introduced in House
With the strong backing of NAHB, Reps. Dave Reichert (R-Wash.), Ron Kind (D-Wash.), Earl Blumenauer (D-Ore.), Geoff Davis (R-Ky.), Tom Perriello (D-Va.) and Chris Lee (R-N.Y.) have introduced H.R. 4226, the Expanding Building Efficiency Incentives Act of 2009. NAHB worked closely with the lawmakers as they crafted the comprehensive package of energy efficiency tax incentives designed to reduce energy costs for families and businesses, promote innovation and conservation and create future energy jobs.
The bill contains five key tax incentives for energy-efficient building:
- New Energy Efficient Home Tax Credit (45L). The amount of the credit is increased to $5,000; internal components of a house, in addition to the building envelope, are eligible for reaching the 50% above-code threshold; the credit is allowed to be claimed against the Alternative Minimum Tax and it is extended to Dec. 31, 2015.
- Deduction for Energy-Efficient Commercial Buildings (179D). The amount of the deduction is increased from $1.80 per square foot to $3.00 per square foot; it is allowed to be used for the construction of energy-efficient condo units in buildings four stories or more above grade and the deduction is extended until Dec. 31, 2015.
- Residential Property Energy Credit (25C). Installation costs, which are currently disqualified, would be allowable for the credit amount; the lifetime cap on the credit would be increased from $1,500 to $5,000 and it would be extended to Dec. 31, 2015.
- Home Energy Rating Credit (25E). A $200 credit would be provided for the cost incurred for a home energy rating.
- Home Performance Auditor Certification Credit (45R). A $500 credit for training to be certified to perform home energy ratings would be provided.
The bill expands on companion legislation introduced in the Senate by Sens. Olympia Snowe (R-Maine) and Jeff Bingaman (D-N.M.).
To view the legislation, click here and type the bill number in the box at the upper center of the screen.
For more information, e-mail Greg Brown at NAHB, or call him at 800-368-5242 x8421.