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HR615119th CongressWALLET

To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for individuals for amounts paid for gas and electricity for primary residences.

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

Introduced

Summary

A refundable electricity and gas credit would let individuals get tax relief for home utility bills by allowing a credit for up to $350 of qualified electricity and gas costs each year. It targets payments for service at your principal residence and includes income limits and reporting rules for renters.

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  • Families and households: Individuals could claim a refundable credit equal to qualified energy costs up to $350 per year for electricity and gas paid at their main home.
  • Renters and landlords: If electricity or gas is included in rent, the person who leases the residence must give the tenant a receipt by January 31 showing the portion of rent attributable to those utilities.
  • High-income taxpayers: The credit would phase out at modified adjusted gross income above $400,000 for joint filers and $200,000 for other filers.
  • Dependents and tax interactions: The credit would not be allowed for someone claimed as a dependent and cannot be claimed for expenses already deducted or credited elsewhere on the tax return.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Refundable $350 credit for home utilities

If enacted, you could claim a refundable tax credit for gas and electricity at your main home. The credit would equal what you paid, up to $350 for the year. Renters could count the part of rent that pays those utilities, if the costs come from a utility and the landlord provides a receipt. You would not qualify if your modified adjusted gross income is over $400,000 on a joint return or over $200,000 for other filers. You could not claim it if someone else can claim you as a dependent, or if you already took another tax break for the same costs. It would apply to amounts paid after this bill is enacted.

Landlords would give utility rent receipts

If your rent includes gas or electricity, your landlord would need to send you and the Treasury a receipt by January 31 each year. It would show the share of last year's rent that paid for those utilities. This would help you document costs to claim the credit. The rule would apply after the bill is enacted.

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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