To amend the Internal Revenue Code of 1986 to double the dollar limitation for the energy efficient home improvement credit with respect to heat pumps, heat pump water heaters, biomass stoves, and boilers.
Introduced Jan 22, 2025 by Rep. Josh Gottheimer
It's waiting on a committee vote to reach the full chamber. Most bills never leave this stage.
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler.
Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, up to $1,200, for certain other eligible energy-efficient property such that some taxpayers may qualify for a maximum tax credit of $3,200.)
Summary by the Congressional Research Service.
No floor votes yet — it hasn't reached the floor of either chamber.