A bill to amend the Internal Revenue Code of 1954 to allow an income tax credit or an income tax deduction for certain expenditures of a taxpayer relating to the thermal design of the residence of such taxpayer.

Allows an income tax credit under the Internal Revenue Code for 25 percent of the expenses incurred (1) in improving the thermal design of a taxpayer's principal residence; or (2) in purchasing specified energy conserving devices incident to the purchase of the taxpayer's principal residence.

Permits the taxpayer to elect to deduct the above expenses in an amount not to exceed $4000.