Bill Introduced to Extend Energy-Efficient Tax Incentives

Friday, September 13, 2019 - 10:30am

Reps. James Langevin, D-R.I., and Peter Welch, D-Vt., yesterday introduced the Building Efficiently Act of 2019 (H.R. 4317) to extend through 2020 and expand the Section 45L new energy-efficient home credit and to create a new tax credit worth up to 3.3 percent of the total construction cost for residential rental properties that reduce energy use by 40 percent or more. It would also extend the Section 179D commercial property (which can be used for multifamily housing) energy efficiency deduction through 2020.  The bill includes provisions not to reduce low-income housing tax credit basis by the amount of Section 45L credit, the Section 179D deduction and the renewable energy investment tax credit.