Section 1 Short title
This Act may be cited as the “Home Heating and Cooling Efficiently Act”.
Home Heating and Cooling Efficiently Act
A BILL
To amend the Internal Revenue Code of 1986 to increase to $500 the residential energy property expenditures limitation with respect to heat pumps for purposes of the credit for nonbusiness energy property.
Sec. 2 Increase in limitation with respect to fuel pumps for nonbusiness energy property credit
In general— Subparagraph (C) of section 25C(b)(3) of the Internal Revenue Code of 1986 is amended by inserting “(other than an electric heat pump described in subparagraph (A) or (B) of subsection (d)(3))” before the period at the end.
Effective date— The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.