Home Heating and Cooling Efficiently Act

Bill: 113-hr-3772
Sponsor: full_name: Rep. Welch, Peter [D-VT-At Large]
Introduced: 2013-12-12
Policy area: Taxation
Subjects: Energy efficiency and conservation

Environmental technology

Income tax credits

Lighting, heating, cooling
Latest action: action_date: 2013-12-12
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-12-12
action_desc: Introduced in House
text: <p>Home Heating and Cooling Efficiently Act - Amends the Internal Revenue Code to exempt electric heat pumps and water heaters from the $300 limitation on residential energy property expenditures for purposes of the tax credit for nonbusiness energy efficiency expenditures (thus making the maximum $500 limitation on energy efficiency improvements applicable to such heat pumps and water heaters). </p>

tv_txt: I 113th CONGRESS 1st Session H. R. 3772 IN THE HOUSE OF REPRESENTATIVES December 12, 2013 Mr. Welch introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase to $500 the residential energy property expenditures limitation with respect to heat pumps for purposes of the credit for nonbusiness energy property.

1. Short title This Act may be cited as the Home Heating and Cooling Efficiently Act . 2. Increase in limitation with respect to fuel pumps for nonbusiness energy property credit (a) In general Subparagraph (C) of section 25C(b)(3) of the Internal Revenue Code of 1986 is amended by inserting (other than an electric heat pump described in subparagraph (A) or (B) of subsection (d)(3)) before the period at the end. (b) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.