What This Bill Does · Plain English
Summary · Congress.gov
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler. Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, up to $1,200, for certain other eligible energy-efficient property such that some taxpayers may qualify for a maximum tax credit of $3,200.)
Action Timeline
2025-01-22
Referred to the House Committee on Ways and Means.
2025-01-22
Introduced in House
2025-01-22
Introduced in House
Frequently Asked Questions
Did HR.616 pass?
HR.616 is still alive. Current stage: COMMITTEE. Pass likelihood: 62%.
What does HR.616 do?
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler. Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, …
Who sponsored HR.616?
HR.616 was sponsored by Josh Gottheimer (D-New Jersey).
Full Bill Text
119 HR 616 IH: To amend the Internal Revenue Code of 1986 to double the dollar limitation for the energy efficient home improvement credit with respect to heat pumps, heat pump water heaters, biomass stoves, and boilers. U.S. House of Representatives 2025-01-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 616 IN THE HOUSE OF REPRESENTATIVES January 22, 2025 Mr. Gottheimer introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to double the dollar limitation for the energy efficient home improvement credit with respect to heat pumps, heat pump water heaters, biomass stoves, and boilers. 1. Increased limitation for heat pump and heat pump water heaters; biomass stoves and boilers (a) In general Section 25C(b)(5) of the Internal Revenue Code of 1986 is amended by striking $2,000 and inserting $4,000 . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2024.
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