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To amend the Internal Revenue Code of 1986 to make certain adjustments with respect to the nonbusiness energy property tax credit, and for other purposes.
12/30/2022, 11:18 AM
Summary of Bill HR 5233
Bill 117 hr 5233, also known as the Nonbusiness Energy Property Tax Credit Adjustment Act, aims to make changes to the Internal Revenue Code of 1986 in relation to the nonbusiness energy property tax credit. This tax credit is designed to incentivize individuals to make energy-efficient improvements to their homes.
The bill proposes adjustments to the current tax credit system to make it more accessible and beneficial for taxpayers. It also includes provisions for other purposes related to energy efficiency and tax incentives.
Overall, the goal of this legislation is to encourage individuals to invest in energy-efficient upgrades for their homes, ultimately leading to a reduction in energy consumption and a positive impact on the environment.
The bill proposes adjustments to the current tax credit system to make it more accessible and beneficial for taxpayers. It also includes provisions for other purposes related to energy efficiency and tax incentives.
Overall, the goal of this legislation is to encourage individuals to invest in energy-efficient upgrades for their homes, ultimately leading to a reduction in energy consumption and a positive impact on the environment.
Congressional Summary of HR 5233
This bill expands the tax credit for nonbusiness energy property to include a credit for home energy audits. The amount of such credit is 30% of the cost of a home energy audit, not to exceed $150.
The bill defines home energy audit to mean an inspection and written report for a dwelling located in the United States that is owned and used by a taxpayer as the taxpayer's principal residence. The audit must identify the most significant and cost-effective energy efficiency improvements for such dwelling, including an estimate of the energy and cost savings for each improvement, and be conducted and prepared by a certified home energy auditor.
Read the Full Bill
Current Status of Bill HR 5233
Bill HR 5233 is currently in the status of Bill Introduced since September 10, 2021. Bill HR 5233 was introduced during Congress 117 and was introduced to the House on September 10, 2021. Bill HR 5233's most recent activity was Referred to the House Committee on Ways and Means. as of September 10, 2021
Bipartisan Support of Bill HR 5233
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
6Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5233
Primary Policy Focus
TaxationPotential Impact Areas
- Energy efficiency and conservation
- Income tax credits
- Residential rehabilitation and home repair
Alternate Title(s) of Bill HR 5233
To amend the Internal Revenue Code of 1986 to make certain adjustments with respect to the nonbusiness energy property tax credit, and for other purposes.
To amend the Internal Revenue Code of 1986 to make certain adjustments with respect to the nonbusiness energy property tax credit, and for other purposes.
Comments
Sponsors and Cosponsors of HR 5233
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