The 45L Tax Credit passed in the House yesterday (7/1/2020) and now moves to the Senate. The 45L federal tax credit for energy efficient homes addresses the tax credit extending it from 12/31/2020 to 12/31/2025. Another five years to qualify for Federal Energy Tax Credits. The update will move the qualifications from 50% more efficient than the 2006 IECC to 15% more efficient than the 2018 IECC. The credit will also increase from $2000 a unit to $2500 a unit.
In addition, as part of the bill, the Moving Forward Act rebuilds America’s infrastructure. It will help with our roads, bridges, transit system, schools, housing, broadband access, and energy efficiency. The plan includes more than 1.5 trillion dollars.
Read more here: Moving Forward Act. The section on 45L begins on page 2217.
This legislation will pass the House this year but will need to be reconsidered after the 2020 election.