†
814
HR 6 EAS1S/PP
‘‘(i) clothes washers described in para-
graph (1)(A)(i),
‘‘(ii) clothes washers described in para-
graph (1)(B)(i),
‘‘(iii) refrigerators described in para-
graph (1)(A)(ii), and
‘‘(iv) refrigerators described in para-
graph (1)(B)(ii).
‘‘(c) LIMITATION ON MAXIMUM CREDIT.—
‘‘(1) IN GENERAL.—The maximum amount of
credit allowed under subsection (a) with respect to a
taxpayer for all taxable years shall be—
‘‘(A) $30,000,000 with respect to the credit
determined under subsection (b)(1)(A), and
‘‘(B) $30,000,000 with respect to the credit
determined under subsection (b)(1)(B).
‘‘(2) LIMITATION BASED ON GROSS RECEIPTS.—
The credit allowed under subsection (a) with respect
to a taxpayer for the taxable year shall not exceed an
amount equal to 2 percent of the average annual gross
receipts of the taxpayer for the 3 taxable years pre-
ceding the taxable year in which the credit is deter-
mined.
†
815
HR 6 EAS1S/PP
‘‘(3) GROSS
RECEIPTS.—For purposes of this
subsection, the rules of paragraphs (2) and (3) of sec-
tion 448(c) shall apply.
‘‘(d) DEFINITIONS.—For purposes of this section—
‘‘(1) QUALIFIED
ENERGY
EFFICIENT
APPLI-
ANCE.—The term ‘qualified energy efficient appliance’
means—
‘‘(A) a clothes washer described in subpara-
graph (A)(i) or (B)(i) of subsection (b)(1), or
‘‘(B) a refrigerator described in subpara-
graph (A)(ii) or (B)(ii) of subsection (b)(1).
‘‘(2) CLOTHES
WASHER.—The term ‘clothes
washer’ means a residential clothes washer, including
a residential style coin operated washer.
‘‘(3) REFRIGERATOR.—The term ‘refrigerator’
means an automatic defrost refrigerator-freezer which
has an internal volume of at least 16.5 cubic feet.
‘‘(4) MEF.—The term ‘MEF’ means Modified
Energy Factor (as determined by the Secretary of En-
ergy).
‘‘(e) SPECIAL RULES.—
‘‘(1) IN GENERAL.—Rules similar to the rules of
subsections (c), (d), and (e) of section 52 shall apply
for purposes of this section.
†
816
HR 6 EAS1S/PP
‘‘(2) AGGREGATION RULES.—All persons treated
as a single employer under subsection (a) or (b) of
section 52 or subsection (m) or (o) of section 414 shall
be treated as 1 person for purposes of subsection (a).
‘‘(f) VERIFICATION.—The taxpayer shall submit such
information or certification as the Secretary, in consulta-
tion with the Secretary of Energy, determines necessary to
claim the credit amount under subsection (a).
‘‘(g) TERMINATION.—This section shall not apply—
‘‘(1) with respect to refrigerators described in
subsection (b)(1)(A)(ii) produced after December 31,
2004, and
‘‘(2) with respect to all other qualified energy ef-
ficient appliances produced after December 31,
2006.’’.
(b) LIMITATION ON CARRYBACK.—Section 39(d) (relat-
ing to transition rules), as amended by this Act, is amended
by adding at the end the following new paragraph:
‘‘(14) NO CARRYBACK OF ENERGY EFFICIENT AP-
PLIANCE CREDIT BEFORE EFFECTIVE DATE.—No por-
tion of the unused business credit for any taxable year
which is attributable to the energy efficient appliance
credit determined under section 45H may be carried
to a taxable year ending before January 1, 2003.’’.
†
817
HR 6 EAS1S/PP
(c) CONFORMING AMENDMENT.—Section 38(b) (relat-
ing to general business credit), as amended by this Act, is
amended by striking ‘‘plus’’ at the end of paragraph (17),
by striking the period at the end of paragraph (18) and
inserting ‘‘, plus’’, and by adding at the end the following
new paragraph:
‘‘(19) the energy efficient appliance credit deter-
mined under section 45H(a).’’.
(d) CLERICAL AMENDMENT.—The table of sections for
subpart D of part IV of subchapter A of chapter 1, as
amended by this Act, is amended by adding at the end the
following new item:
‘‘Sec. 45H. Energy efficient appliance credit.’’.
(e) EFFECTIVE DATE.—The amendments made by this
section shall apply to appliances produced after December
31, 2002, in taxable years ending after such date.
SEC. 2103. CREDIT FOR RESIDENTIAL ENERGY EFFICIENT
PROPERTY.
(a) IN GENERAL.—Subpart A of part IV of subchapter
A of chapter 1 (relating to nonrefundable personal credits)
is amended by inserting after section 25B the following new
section:
‘‘SEC. 25C. RESIDENTIAL ENERGY EFFICIENT PROPERTY.
‘‘(a) ALLOWANCE OF CREDIT.—In the case of an indi-
vidual, there shall be allowed as a credit against the tax
†
818
HR 6 EAS1S/PP
imposed by this chapter for the taxable year an amount
equal to the sum of—
‘‘(1) 15 percent of the qualified photovoltaic
property expenditures made by the taxpayer during
such year,
‘‘(2) 15 percent of the qualified solar water heat-
ing property expenditures made by the taxpayer dur-
ing such year,
‘‘(3) 30 percent of the qualified fuel cell property
expenditures made by the taxpayer during such year,
‘‘(4) 30 percent of the qualified wind energy
property expenditures made by the taxpayer during
such year, and
‘‘(5) the sum of the qualified Tier 2 energy effi-
cient building property expenditures made by the tax-
payer during such year.
‘‘(b) LIMITATIONS.—
‘‘(1) MAXIMUM
CREDIT.—The credit allowed
under subsection (a) shall not exceed—
‘‘(A) $2,000 for property described in sub-
section (d)(1),
‘‘(B) $2,000 for property described in sub-
section (d)(2),
‘‘(C) $1,000 for each kilowatt of capacity of
property described in subsection (d)(4),