Sec. 90421. Extension, increase, and modifications of nonbusiness energy property credit
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Section 25C(g)(2) is amended by striking December 31, 2020 and inserting December 31, 2025 . Section 25C(a)(1) is amended by striking 10 percent and inserting 15 percent . Section 25C(b)(1) is amended— by striking $500 and inserting $1,200 , and by striking December 31, 2005 and inserting December 31, 2020 . Section 25C(b) is amended by striking paragraphs
(2)and
(3)and inserting the following: The credit allowed under this section by reason of subsection (a)(1), with respect to costs paid or incurred by a taxpayer for a taxable year, shall not exceed— for components described in subsection (c)(3)(A), the excess (if any) of $600 over the aggregate credits allowed under this section with respect to such components for all prior taxable years ending after December 31, 2020, for components described in subsection (c)(3)(B)— in the case of components which are not described in clause (ii), the excess (if any) of $200 over the aggregate credits allowed under this section with respect to such components for all prior taxable years ending after December 31, 2020, and in the case of components which meet the standards for most efficient certification under applicable Energy Star program requirements, the excess (if any) of $600 over the aggregate credits allowed under this section with respect to such components for all prior taxable years ending after December 31, 2020, or with respect to components described in clause
(i)for such taxable year, and for components described in subsection (c)(3)(C) by any taxpayer for any taxable year, the credit allowed under this section with respect to such amounts for such year shall not exceed the lesser of— the excess (if any) of $500 over the aggregate credits allowed under this section with respect to such amounts for all prior taxable years ending after December 31, 2020, or $250 for each exterior door. The credit allowed under this section by reason of subsection (a)(2) shall not, with respect to an item of property, exceed— in the case of property described in subparagraph (A), (B), or
(C)of subsection (d)(3), $600, for the case of property described in subparagraph
(D)of subsection (d)(3), $400, in the case of a hot water boiler, $600, and in the case of a furnace, an amount equal to the sum of— $300, plus if the taxpayer is converting from a non-condensing furnace to a condensing furnace, $300. . Section 25C(c)(2) is amended by striking meets— and all that follows through the period at the end and inserting the following: meets— in the case of an exterior window, a skylight, or an exterior door, applicable Energy Star program requirements, and in the case of any other component, the prescriptive criteria for such component established by the 2018 IECC (as such term is defined in section 45L(b)(5)). . Section 25C(c)(3) is amended by adding and at the end of subparagraph (B), by striking , and at the end of subparagraph
(C)and inserting a period, and by striking subparagraph (D). Section 25C(d)(2)(A) is amended by adding or at the end of clause (i), by striking , or at the end of clause
(ii)and inserting a period, and by striking clause (iii). Section 25C(d) is amended by striking paragraph
(5)and redesignating paragraph
(6)as paragraph (5). Section 25C(d)(3)(A) is amended by striking an energy factor of at least 2.0 and inserting a uniform energy factor of at least 3.0 . Section 25C(d)(3) is amended— by striking January 1, 2009 each place such term appears and inserting November 1, 2019 , and by striking subparagraph
(D)and inserting the following: a natural gas, propane, or oil water heater which, in the standard Department of Energy test procedure, yields— in the case of a storage tank water heater— in the case of a medium-draw water heater, a uniform energy factor of not less than 0.78, and in the case of a high-draw water heater, a uniform energy factor of not less than 0.80, and in the case of a tankless water heater— in the case of a medium-draw water heater, a uniform energy factor of not less than 0.87, and in the case of a high-draw water heater, a uniform energy factor of not less than 0.90, and . Section 25C(d)(4) is amended by striking by striking not less than 95. and inserting the following: not less than— in the case of a furnace, 97 percent, and in the case of a hot water boiler, 95 percent. . Section 25C(a) is amended by striking and at the end of paragraph (1), by striking the period at the end of paragraph
(2)and inserting , and , and by adding at the end the following new paragraph: 30 percent of the amount paid or incurred by the taxpayer during the taxable year for home energy audits. . Section 25C(b) is amended adding at the end the following new paragraph: The amount of the credit allowed under this section by reason of subsection (a)(3) shall not exceed $150. . Section 25C , as amended by subsections (a), is amended by redesignating subsections (e), (f), and (g), as subsections (f), (g), and (h), respectively, and by inserting after subsection
(d)the following new subsection: For purposes of this section, the term home energy audit means an inspection and written report with respect to a dwelling unit located in the United States and owned or used by the taxpayer as the taxpayer’s principal residence (within the meaning of section 121) which— identifies the most significant and cost-effective energy efficiency improvements with respect to such dwelling unit, including an estimate of the energy and cost savings with respect to each such improvement, and is conducted and prepared by a home energy auditor that meets the certification or other requirements specified by the Secretary (after consultation with the Secretary of Energy, and not later than 180 days after the date of the enactment of this subsection) in regulations or other guidance. . Section 1016(a)(33) is amended by striking section 25C(f) and inserting section 25C(g) . Except as otherwise provided by this subsection, the amendments made by this section shall apply to property placed in service after December 31, 2020. The amendments made by subsection
(a)shall apply to property placed in service after December 31, 2020. The amendments made by subsection
(k)shall apply to amounts paid or incurred after December 31, 2020.