H.R. 616 has not moved since its introduction on Jan 22, 2025, with no cosponsors
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.
Written by the Congressional Research Service [2]. 129 words.
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler. Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, up to $1,200, for certain other eligible energy-efficient property such that some taxpayers may qualify for a maximum tax credit of $3,200.)
- Committees
- House Ways and Means Committee
- Policy area
- Taxation: 20 of 6,214 bills became law, 113th–118th (0.3%)
- Sponsor
- 1 of 194 bills enacted since 2013
- Text versions
- 1: introduced in house · 55 words
- Subjects
- Alternative and renewable resourcesEnergy efficiency and conservationIncome tax creditsLighting, heating, coolingResidential rehabilitation and home repair
- Latest action
- Jan 22, 2025: Referred to the House Committee on Ways and Means.
- Records
- Congress.gov · Bill text
The bill status record lists no related bills.