S.2059 - Energy Efficient Heating and Cooling Tax Credit Act

A bill to amend the Internal Revenue Code of 1986 to allow a credit for the purchase of heating and cooling equipment which meets the Energy Star program requirements and is used in certain high-cost energy communities, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Energy Efficient Heating and Cooling Tax Credit Act as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to allow a credit for the purchase of heating and cooling equipment which meets the Energy Star program requirements and is used in certain high-cost energy communities, and for other purposes. as introduced.

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02/27/14
 
 
 
 
 
 
 

Official Summary

Energy Efficient Heating and Cooling Tax Credit Act - Amends the Internal Revenue Code to expand the tax credit for nonbusiness energy property expenditures to allow a credit for up to $5,000 in a taxable year of qualifying heating conversion expenditures for a principal residence. Defines

Official Summary

Energy Efficient Heating and Cooling Tax Credit Act - Amends the Internal Revenue Code to expand the tax credit for nonbusiness energy property expenditures to allow a credit for up to $5,000 in a taxable year of qualifying heating conversion expenditures for a principal residence. Defines \"qualifying heating conversion expenditures\" as expenditures, other than for soil cleanup, for property that is placed in service before January 1, 2019, and used as a heating or cooling system on a building or structure located in a community in which the average residential expenditure for home energy is more than 200% of the national average (as determined by the Energy Information Agency).

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