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119-hr-616119th CongressWALLET

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.

Sponsored By: Representative Gottheimer, Josh [D-NJ-5]

Introduced

Summary

Doubles the per-home cap for certain energy-efficiency credits to $4,000. This bill would raise the Energy Efficient Home Improvement Credit's maximum from $2,000 to $4,000 for expenses on four technologies: heat pumps, heat pump water heaters, biomass stoves, and boilers. The higher limit would apply to tax years beginning after December 31, 2024, so it takes effect in 2025. The amendment only changes the dollar limit for those categories and leaves other credit rules intact.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Higher credit cap for home heat pumps

This bill would raise the yearly limit on the home energy credit from $2,000 to $4,000. The higher cap would apply only to heat pumps, heat-pump water heaters, biomass stoves, and boilers. If passed, you could claim up to $2,000 more in credit in a year for these items. It would apply to tax years that start after December 31, 2024 (generally 2025 and later). It would not change other rules for this credit.

Sponsors & CoSponsors

Sponsor

Gottheimer, Josh [D-NJ-5]

NJ • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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