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Energy Conservation Legislation Includes Tax Credit for Energy-Efficient Homes

Tuesday, April 15, 2003 - 1:45AM

Energy conservation legislation passed last week by the House of Representatives would provide builders with a voluntary tax credit of $2,000 for each new home built that is 30 percent above the 2000 International Energy Conservation Code (IECC). H.R. 6 also provides consumers a tax credit of up to $2,000 on the cost of qualified home remodeling projects that improve energy efficiency. A Senate energy tax package is still in committee and is not expected to be ready for a vote on the full Senate floor until later this spring. The National Association of Home Builders (NAHB) says when the bills are considered in a conference committee, it will lobby to restore a tax credit of $2.25 per square foot for multifamily buildings that are 50 percent more efficient than properties built to standards of the American Society of Heating, Refrigerating and Air-Conditioning Engineers; this credit was dropped from H.R. 6 prior to passage.

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