CONGRESS EXTENDS ENERGY EFFICIENT HOMES TAX CREDIT

Congress has 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 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 download the legislation, click here:  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.  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.

The HBA is planning a Builder Forum or an in-house seminar on this topic in the next few weeks.  More information will be provided to members via email.