A bill to amend the Internal Revenue Code of 1954 to provide individuals a refundable income tax credit for 50 percent of the amount of energy saved during the taxable year with respect to the principal residence of the taxpayer.

Amends the Internal Revenue Code to allow individual taxpayers a refundable income tax credit equal to 50 percent of the amount of energy saved during the taxable year (based on the amount of energy expenditures for 1978) with respect to the principal residence of the taxpayer. Terminates the authorization for such credit for taxable years beginning after December 31, 1985.