summary
Introduced
09/07/2021
09/07/2021
In Committee
09/07/2021
09/07/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to extend, increase, and modify the nonbusiness energy property credit.
AI Summary
This bill, the Home Energy Savings Act of 2021, aims to extend, increase, and modify the nonbusiness energy property credit under the Internal Revenue Code. The key provisions include: extending the credit through 2031, increasing the credit percentage for qualified energy efficiency improvements from 10% to 30%, applying an annual limitation of $1,200 instead of a lifetime limitation, updating standards for energy-efficient building envelope components, adding home energy audits as an eligible expense with a $150 limit, and requiring a qualified product identification number for certain energy-efficient property placed in service after 2023. The bill is intended to encourage and support residential energy efficiency improvements through enhanced tax incentives.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Referred to the House Committee on Ways and Means. (on 09/07/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/5187/all-info |
| BillText | https://www.congress.gov/117/bills/hr5187/BILLS-117hr5187ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr5187/BILLS-117hr5187ih.pdf.pdf |
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