Title: New Home Energy Efficiency Act
Policy area: Taxation

Summary:
New Home Energy Efficiency Act
This bill reinstates and extends the new home energy efficiency tax credit through 2022. It also increases to $2,500 in 2021 and through 2022, the amount of such credit for new homes meeting the revised energy efficiency standards set forth in the bill.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2595 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2595

To amend the Internal Revenue Code of 1986 to extend and update the new 
                     energy efficient home credit.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 15, 2019

Ms. Hassan (for herself and Ms. Collins) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to extend and update the new 
                     energy efficient home credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``New Home Energy Efficiency Act''.

SEC. 2. EXTENSION OF NEW ENERGY EFFICIENT HOME CREDIT.

    (a) In General.--Subsection (g) of section 45L of the Internal 
Revenue Code of 1986 is amended by striking ``December 31, 2017'' and 
inserting ``December 31, 2020''.
    (b) Effective Date.--The amendments made by this section shall 
apply to qualified new energy efficient homes acquired after December 
31, 2017.

SEC. 3. UPDATING NEW ENERGY EFFICIENT HOME CREDIT.

    (a) In General.--Section 45L of the Internal Revenue Code of 1986, 
as amended by section 2, is amended--
            (1) in subsection (a)(2)--
                    (A) in subparagraph (A), by striking ``$2,000'' and 
                inserting ``$2,500''; and
                    (B) in subparagraph (B), by inserting ``or (4)'' 
                after ``paragraph (3)'';
            (2) in subsection (b)--
                    (A) in paragraph (2)(B), by striking ``this 
                section'' and inserting ``the New Home Energy 
                Efficiency Act''; and
                    (B) by adding at the end the following:
            ``(5) 2018 iecc.--
                    ``(A) In general.--The term `2018 IECC' means the 
                2018 International Energy Conservation Code, as such 
                Code (including supplements) is in effect on the date 
                of the enactment of the New Home Energy Efficiency Act.
                    ``(B) Special rule.--For purposes of subsection 
                (c)(1)(B)(i)(I), in determining whether a dwelling unit 
                has been constructed in accordance with the standards 
                of chapter 4 of the 2018 IECC by achieving a level of 
                energy efficiency which meets Section R406.4 (N1106.4) 
                of such Code, such determination shall be made without 
                accounting for on-site energy generation.'';
            (3) by striking subsection (c) and inserting the following:
    ``(c) Energy Saving Requirements.--A dwelling unit meets the energy 
saving requirements of this subsection if such unit--
            ``(1)(A) is certified--
                    ``(i) to have a level of annual heating and cooling 
                energy consumption which is at least 60 percent below 
                the annual level of heating and cooling energy 
                consumption of a comparable dwelling unit--
                            ``(I) which is constructed in accordance 
                        with the standards of chapter 4 of the 2006 
                        International Energy Conservation Code, as such 
                        Code (including supplements) is in effect on 
                        January 1, 2006, and
                            ``(II) for which the heating and cooling 
                        equipment efficiencies correspond to the 
                        minimum allowed under the regulations 
                        established by the Department of Energy 
                        pursuant to the National Appliance Energy 
                        Conservation Act of 1987 and in effect at the 
                        time of completion of construction, and
                    ``(ii) to have building envelope component 
                improvements account for at least \1/5\ of such 60 
                percent, or
            ``(B) is certified--
                    ``(i) to have a level of annual energy consumption 
                which is at least 15 percent below the annual level of 
                energy consumption of a comparable dwelling unit--
                            ``(I) which is constructed in accordance 
                        with the standards of chapter 4 of the 2018 
                        IECC, and
                            ``(II) which meets the requirements 
                        described in subparagraph (A)(i)(II), and
                    ``(ii) to have building envelope component 
                improvements account for at least \1/5\ of such 15 
                percent,
            ``(2) is a manufactured home which--
                    ``(A) conforms to Federal Manufactured Home 
                Construction and Safety Standards (part 3280 of title 
                24, Code of Federal Regulations), and
                    ``(B) meets the requirements described in 
                subparagraph (A) or (B) of paragraph (1),
            ``(3) meets the requirements established by the 
        Administrator of the Environmental Protection Agency under the 
        Energy Star Labeled Homes program, or
            ``(4) is a manufactured home which--
                    ``(A) conforms to the standards described in 
                paragraph (2)(A), and
                    ``(B) meets the requirements described in paragraph 
                (3).''; and
            (4) in subsection (g), by striking ``December 31, 2020'' 
        and inserting ``December 31, 2022''.
    (b) Effective Date.--The amendments made by this section shall 
apply to qualified new energy efficient homes acquired after December 
31, 2020.
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