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Tax Credit

A direct reduction in the amount of tax owed, rather than a reduction in taxable income. For example, a $100 tax credit reduces your tax bill by $100.

Internal Revenue Code (of 1986)

The main body of federal tax laws in the United States, which this bill proposes to change.

Diversion of Wasted Food

Actions taken to keep food waste from being sent to landfills, often by recycling, composting, or other methods that use it for a different purpose.

Qualified Residential Food Recycling Appliance

An electric device used in a primary home that separates and pre-processes food waste (for example, by dehydrating it) to reduce its volume and divert it from landfills.

Qualified Residential Organic Waste Services

Services that collect organic waste, including food scraps, from homes to be processed locally and kept out of landfills.

Taxable Year

The accounting period for which taxes are calculated, which is usually a calendar year (January 1 to December 31) for individuals.

Principal Residence

The main home where a person lives, as opposed to a vacation home, a rental property, or a secondary residence.