A bill to amend the Internal Revenue Code of 1954 to provide a tax credit to homebuilders for the contruction of residences incorporating certain solar energy utilization characteristics.

Summary

Amends the Internal Revenue Code to provide homebuilders with an income tax credit for the construction of residences which incorporate a passive solar energy system. Directs the Secretary of the Treasury, after consultation with the Secretaries of Energy and Housing and Urban Development, to prescribe regulations setting forth a solar construction credit table for purposes of determining the amount of the credit for which the incorporator of the solar energy system is eligible. Limits the dollar amount of such credit to $2,500. Phases out such credit in annual increments after 1988. Defines "passive solar energy system" as a system which contains a solar collection area, an absorber, a storage mass, a heat distribution method, and heat regulation devices. Requires such system to be installed in a new residence after September 30, 1983 and before January 1, 1992.

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Timeline

1. 8 March 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 8 March 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 10 March 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department, Energy Department.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 8 March 1983

  Open at official source

Sponsors

• Sen. Hart, Gary W. [D-CO] · D · Sponsor
• · ssfi00 · Standing

Related records

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