119th Congress
H.R. 616
To amend the Internal Revenue Code of 1986 to double the dollar limitation for the energy efficient home improvement credit with respect to heat pumps, heat pump water heaters, biomass stoves, and boilers.
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- Josh Gottheimer(D-NJ)
- Introduced
- Jan 22, 2025
- Policy area
- Taxation
- Committees
- House Committee on Ways and Means
- Official text
- Introduced in House · Congress.gov page
Cosponsors (0)
No cosponsors.
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler.
Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, up to $1,200, for certain other eligible energy-efficient property such that some taxpayers may qualify for a maximum tax credit of $3,200.)
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 22, 2025 · House
Referred to the House Committee on Ways and Means. - Jan 22, 2025
Introduced in House