Although recovery for home building has been looking up for a while—with new-home starts in 2013 up 18 percent over 2012 and new-home sales in January at their highest level since July 2008—coming
Tax-Credit Bills on Right Track
Tax credits for energy-efficient home construction are closer now that the Senate passed energy legislation that includes builder incentives.
|Kent Conine, President NAHB
Tax credits for energy-efficient home construction are closer now that the Senate passed energy legislation that includes builder incentives. Companion legislation passed the House in April. A committee should start hammering out differences in the bills this fall. A key NAHB-supported element in the Senate’s bill that’s not in the House’s is a tax deduction for energy-efficient multifamily housing.
- Senate version
- $1,250 builder tax credit for homes built to exceed the 2000 International Energy Conservation Code by at least 30%
- Up to $300 credit for consumers who do qualified remodeling projects that boost energy efficiency
- $2.25 per-square-foot tax deduction for builders of multifamily housing that exceeds ASHRAE standards
- House version
- $2,000 credit for builders of homes that meet the same energy-efficiency criteria as under the Senate bill
- Up to $2,000 credit for consumers who undertake projects to reduce energy consumption of existing homes