Congress Extends Energy Efficient Homes Tax Credit

January 2nd, 2013 - Posted by RESNET under RESNET News

RESNET has achieved its number one legislative priority when Congress extended the $2,000 tax credit for builders who build energy efficient homes by a bipartisan vote (89-8 in the Senate and 257-167 in the House).

The legislation changed the base of the tax credit from the 2003 to the 2006 International Energy Conservation Code.

The extension was part of the compromise legislation aimed at averting the fiscal cliff.  The legislation extends the credit from January 1, 2012 through December 31, 2013 and retroactively to January 1, 2012.  The credit had previously expired on December 31, 2011.

The extension of the energy efficient tax credit is contained in Section 408 of the legislation.  To down load the legislation go to American Taxpayer Act.

The legislation also extended the tax credit for homeowners to purchase qualified products to improve the energy efficiency of their existing homes.

President Obama announced that he would sign this legislation.

This is a significant achievement considering the political stalemate that has existed in Washington.  It also demonstrates that there is wide bipartisan policy support for high performance homes.

RESNET wants to express its appreciation to its Washington team, its strategic allies and the RESNET members that reached out to their Congressional delegations.  Special recognition goes to Jim Petersen of the Pulte Group and John Johnson of Tacoma Energy for their outreach to the leadership of the House Ways and Means Committee.

 

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