S.1914 - Cut Energy Bills at Home Act112th Congress (2011-2012)
|Sponsor:||Sen. Snowe, Olympia J. [R-ME] (Introduced 11/18/2011)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 11/18/2011 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.1914 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in Senate (11/18/2011)
Cut Energy Bills at Home Act - Amends the Internal Revenue Code to allow individual taxpayers a tax credit for the cost of a qualified whole home energy efficiency retrofit for the purpose of reducing the energy use of the taxpayer's principal residence. Limits the amount of such credit to the lesser of $5,000 or 30% of the qualified home energy efficiency expenditures paid by the taxpayer to reduce residential energy use. Sets forth requirements for a qualified whole home energy efficiency retrofit, including design, testing, and documentation requirements. Terminates such credit after 2016.
Directs the Secretary of the Treasury to establish a review process for home energy efficiency retrofits, including an estimate of usage of the tax credit and an analysis of the average actual energy use reductions.