Bill > HB113

This bill establishes an "energy-efficient home income tax credit" for individuals who purchase or own new, owner-occupied homes that meet specific energy-efficiency standards, or foreclosed homes that have been renovated to meet these standards. The credit amount varies based on the home's energy efficiency rating, measured by the HERS index (Home Energy Rating System), with higher efficiency leading to larger credits ($4,000 for a HERS index of 60 or less, $6,000 for 30 or less, and $8,000 for 0 or less). For renovated foreclosed homes, the credit is based on the percentage of energy reduction achieved through renovations, with similar credit amounts. To claim the credit, homeowners must obtain a certificate of eligibility from the energy, minerals and natural resources department, which requires a certificate of occupancy and proof of the home's energy efficiency rating, potentially determined using approved software like "Bestest EX software." The credit can be claimed for the tax year the home is purchased or renovations are completed, and applications must be made within one year of the end of the calendar year of purchase. The credit is applied against tax liability, with any excess refunded, and cannot be transferred. The bill also specifies reporting requirements for the taxation and revenue department to evaluate the credit's effectiveness and applies to taxable years and home construction/renovations between 2015 and 2018.