A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit for 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.

Allows a tax credit under the Internal Revenue Code for 25 percent (up to $375 per year or $750 for a joint return) of amounts paid or incurred for the installation of qualified insulation and heating equipment in existing residential structures. Defines the terms "qualified insulative materials" and "qualified heating equipment".

States that such income tax credits shall be available for the taxable years beginning after December 31, 1975.