Bill > S3722

This bill, titled the "Lowering Home Energy Costs Act," aims to encourage energy efficiency in homes by extending and restoring certain tax credits. Specifically, it extends the "New Energy Efficient Home Credit" (Section 45L of the Internal Revenue Code) from its current expiration date of June 30, 2026, to December 31, 2032, and similarly extends the "Residential Clean Energy Credit" (Section 25D of the Internal Revenue Code) from December 31, 2025, to December 31, 2032. Furthermore, the bill restores the "Energy Efficient Home Improvement Credit" (Section 25C of the Internal Revenue Code) by repealing a previous law (Section 70505 of Public Law 119-21) that had altered or removed this credit, effectively reinstating it as if that prior change had never occurred. These changes are intended to provide longer-term incentives for homeowners and builders to invest in energy-saving upgrades and installations.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3722/all-info