A bill to extend the tax credit for residential energy conservation expenditures, to reduce the maximum dollar amount of such expenditures and increase the percentage of such expenditures which may be taken into account in determining the amount of such credit, to eliminate the tax credit for taxpayers with adjusted gross incomes in excess of $40,000, and for other purposes.
Residential Energy Conservation Tax Credit Act of 1984 - Amends the Internal Revenue Code to extend the income tax credit for residential energy conservation expenditures for five years (from 1985 to 1990).
Revises the method of calculating the amount of such credit. Reduces the maximum amount of the expenditures which may be taken into account from $2,000 to $1,000. Increases the percentage of the expenditures which may be taken into account from 15 to 40 percent.
Phases out such credit for taxpayers with an adjusted gross income in excess of $30,000.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line