Senate Finance Committee to Take Up Tax Extenders Legislation in April

April 2nd, 2014 - Posted by RESNET under Hot Topics, RESNET News

Extension of the 45L Credit for Energy Efficient New Homes in Committee Chairman’s Mark

The 45L $2,000 tax credit for builders who build energy efficient homes expired on January 1, 2013.

The Senate Finance Committee has scheduled a markup session on a set of extensions for tax credits that have expired. The legislation being markup is the “Expiring Provisions Improvement Reform and Efficiency Act” (EXPIRE).

The chairman of the Senate Finance Committee Ron Wyden (D-OR) has developed a “Chairman’s Mark” of credit provisions he proposes for committee action.

Chairman Wyden’s mark calls for the extension of 45L from January 1, 2014 to December 31, 2015. To view Senator Wyden’s mark go to Chairman’s Mark of the EXPIRE Act. 45L is covered on page 74.

As chairman of the Senate Finance Committee, Senator Wyden’s mark carries a lot of influence with the committee. It vastly improves the chances for the extension of the 45L credit.

RESNET and its strategic partners will be closely tracking developments on the extension of 45L. It would be good for interested parties to contact their congressional delegation to educate them on the importance of the tax credit for building high energy performance homes.

Previous post:

Next Post: