Bill > HR7821

This bill, titled the "Promoting Reduction of Emissions through Landscaping Equipment Act," establishes a new business tax credit for companies that purchase zero-emission electric lawn, garden, and landscaping equipment. This credit, which is 40% of the equipment's cost, is designed to incentivize the adoption of environmentally friendly alternatives to traditional gasoline or diesel-powered machinery. The credit has an annual limit of $25,000 and an aggregate limit of $100,000 over a 10-year period. Zero-emission equipment is broadly defined to include electric-powered tools, generators used to charge them, batteries, and even retrofitted existing equipment that eliminates emissions. The bill also allows businesses to elect to receive this credit as a direct payment or transfer it to another entity, and it includes provisions to prevent double-dipping on tax benefits and to avoid recapture of the credit in cases of bankruptcy or business dissolution. This new tax credit will be available for property placed in service after December 31, 2024, and will terminate five years after the bill's enactment.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/7821/all-info