Bills · HR 616
IN COMMITTEE· 119TH CONGRESS
House BillHR 616Income tax creditsAlternative and renewable resources
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.
INTRO JAN 22· LAST ACTION JAN 22
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- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it directly impacts the cost of making homes more energy-efficient. By doubling the tax credit for specific technologies like heat pumps and biomass stoves, the bill aims to reduce the financial barrier for homeowners to adopt these systems. This could lead to lower energy bills for households over time, as these systems are generally more efficient than traditional alternatives.
If this bill becomes law, homeowners who purchase and install these specific items in 2025 or later could save an additional $2,000 on their federal taxes compared to the current credit. If it doesn't pass, the existing $2,000 limit would remain, potentially making these upgrades less financially attractive for some households, and possibly slowing the adoption of these energy-efficient technologies.
KEY PROVISIONS
3AI-extractedPROVISION 01
Doubles the maximum dollar limitation for the energy efficient home improvement tax credit from $2,000 to $4,000.
This provides a stronger financial incentive for homeowners to invest in eligible energy-efficient upgrades.
PROVISION 02
The increased credit limit specifically applies to heat pumps, heat pump water heaters, biomass stoves, and boilers.
This focuses the enhanced financial support on particular types of energy-saving equipment.
PROVISION 03
The changes will take effect for taxable years beginning after December 31, 2024.
This establishes the start date for when homeowners can claim the higher tax credit.
SPONSORSHIP
1 + 0
D· New Jersey
YRS IN OFFICE
9
BILLS LED
93
ACTION TIMELINE
2 EVENTSJAN 22
Introduced in House
JAN 22
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 616
Congress119th
StatusIn Committee
IntroducedJan 22, 2025
Last actionJan 22, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JAN 22, 2025
House BillHR 616Income tax creditsAlternative and renewable resources
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· LAST ACTION JAN 22, 2025
PASSAGE CHANCES
—%
READING
1 min
COSPONSORS
0
COMPLEXITY
Moderate
