Summary: H.R.7688 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for H.R.7688. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/27/1980)

Amends the Internal Revenue Code to provide homebuilders with an income tax credit for the construction of residences which incorporate a passive solar energy system. Directs the Secretary of the Treasury, after consultation with the Secretaries of Energy and Housing and Urban Development, to prescribe regulations setting forth a solar construction credit table for purposes of determining the amount of the credit for which the incorporator of the solar energy system is eligible. Limits the dollar amount of such credit to $2,000 for calendar years prior to 1986 and phases out the amount of the credit by $500 decrements until 1989 when such credit terminates.

Defines "passive solar energy system" as a system which contains a solar collection area, an absorber, a storage mass, a heat distribution method, and heat regulation devices. Requires such system to be installed in a new residence after September 30, 1980 and before January 1, 1989.