A bill to amend the Internal Revenue Code of 1986 to provide a credit for performance based home energy improvements, and for other purposes.
Cut Energy Bills at Home Act - Amends the Internal Revenue Code to allow individual taxpayers a tax credit for the cost of a qualified whole home energy efficiency retrofit for the purpose of reducing the energy use of the taxpayer's principal residence. Limits the amount of such credit to the lesser of $5,000 or 30% of the qualified home energy efficiency expenditures paid by the taxpayer to reduce residential energy use. Sets forth requirements for a qualified whole home energy efficiency retrofit, including design, testing, and documentation requirements. Terminates such credit after 2016.
Directs the Secretary of the Treasury to establish a review process for home energy efficiency retrofits, including an estimate of usage of the tax credit and an analysis of the average actual energy use reductions.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S7834)
Read twice and referred to the Committee on Finance.
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