Country:United States
Policy status:Ended
Date Effective:2005
Date Ended:2014
Policy Type:Economic Instruments>Fiscal/financial incentives>Tax relief, Economic Instruments>Fiscal/financial incentives>Taxes
Policy Target:Energy Sector>Energy Efficiency / Demand Reduction, Buildings>Residential
Agency:Department of Treasury, Internal Revenue Service (IRS)
Legal References:Emergency Economic Stabilization Act of 2008 (Div. B, Title III, Sec. 304)
Funding:USD 40M (Cumulative projected revenue effect from 2007-2011)

The Energy-Efficient New Homes Tax Credit for Home Builders establishes tax credits for builders of all new energy-efficient homes that achieve a 30% to 50% energy consumption reduction in heating and cooling compared to comparable dwelling constructed to adhere to the 2006 IECC standards. Initially introduced by the federal Energy Policy Act of 2005, the tax credit was extended through 2008 by Section 205 of the Tax Relief and Health Care Act of 2006 (H.R. 6111), and then extended again through December 31, 2009 by Section 304 of the federal Emergency Economic Stabilization Act of 2008 (H.R. 1424, Division B the Energy Improvement and Extension Act of 2008). The measure has been extended by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, the American Taxpayer Relief Act of 2012 (ATRA), and most recently by the Tax Increase Prevention Act of 2014 through December 31, 2014.

Last modified: Fri, 17 Feb 2017 11:50:30 CET