A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.

Summary

Amends the Internal Revenue Code to allow an individual income tax credit for 25 percent of the amounts paid or incurred for the purchase and installation of qualified insulative materials or heating equipment in the taxpayer's principal residence. Limits the credit to $375, or $750 in the case of a joint return. Stipulates that to be considered qualified such improvements must meet heat loss reduction or heating efficiency criteria to be established by the Secretary of the Treasury in accordance with standards developed and prescribed by the National Bureau of Standards.

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Timeline

1. 6 January 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 6 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 6 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 6 January 1977

  Open at official source

Sponsors

• Rep. Cohen, William S. [R-ME-2] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.
• related to ← A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.
• related to ← A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.
• related to ← A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.
• related to ← A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of the amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.
• related to ← A bill to amend the Internal Revenue Code of 1954 to encourage greater conservation of energy in home heating and cooling by allowing individuals a credit of 25 percent of amounts paid or incurred for the installation of more effective insulation and heating equipment in existing residential structures.