Section 1 Short title
This Act may be cited as the “Revamping Appropriate Incentives for Solar Energy for the Roof Act” or the “RAISE the Roof Act”.
Revamping Appropriate Incentives for Solar Energy for the Roof Act
A BILL
To amend the Internal Revenue Code of 1986 to expand the residential energy efficient property credit and energy credit, and for other purposes.
Sec. 2 Credits for investment in solar energy property
Residential energy efficient property— Paragraph (2) of section 25D(d) of the Internal Revenue Code of 1986 is amended to read as follows:
“(2) Qualified solar electric property expenditure
“(A) In general—The term qualified solar electric property expenditure means an expenditure for—
“(i) property which uses solar energy to generate electricity for use in a dwelling unit located in the United States and used as a residence by the taxpayer,
“(ii) any new roof, including any such roof which replaces an existing roof, which is part of an integrated product, or
“(iii) the replacement of an existing roof which is not part of an integrated product, provided that—
“(I) property described in clause (i) is installed,
“(II) replacement of such roof is necessary for the installation of such property, and
“(III) the installation of such property is a primary purpose of the replacement of such roof.
“(B) Integrated product—For purposes of this paragraph, the term integrated product means a solar roofing system that combines property described in subparagraph (A)(i) with roofing materials for the primary purpose of generating electricity from solar energy.”
in subsection (a)—
in paragraph (2)(A)(i)(II), by striking “paragraph (3)(A)(i)” and inserting “clause (i), (ix), or (x) of paragraph (3)(A)”, and
in paragraph (3)(A)—
in clause (vii), by striking “or” at the end, and
by adding at the end the following new clauses:
“(ix) a new roof of a structure, including any such roof which replaces an existing roof, which is part of an integrated product, or
“(x) property used with respect to the repair or replacement of an existing roof of a structure which is not part of an integrated product, provided that—
“(I) property described in clause (i) or (ii) is installed,
“(II) such repair or replacement is necessary for the installation of such property, and
“(III) the installation of such property is a primary purpose of such repair or replacement,”
in subsection (c), by adding at the end the following new paragraph:
“(6) Integrated design—For purposes of this section, the term integrated design means a solar roofing system that combines property described in clause (i) or (ii) of subsection (a)(3)(A) with roofing materials for the primary purpose of generating electricity from solar energy.”
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2020.