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panied by a written analysis documenting the
1
proper application of a permissible energy per-
2
formance calculation method to the specific cir-
3
cumstances of such qualifying new home.
4
‘‘(B) F
ORM PROVIDED TO BUYER
.—A form
5
documenting the energy efficient building enve-
6
lope components and energy efficient heating or
7
cooling equipment installed and their rated en-
8
ergy efficiency performance shall be provided to
9
the buyer of the qualifying new home. The form
10
shall include labeled R-value for insulation prod-
11
ucts, NFRC-labeled U-factor and Solar Heat
12
Gain Coefficient for windows, skylights, and
13
doors, labeled AFUE ratings for furnaces and
14
boilers, labeled HSPF ratings for electric heat
15
pumps, and labeled SEER ratings for air condi-
16
tioners.
17
‘‘(C) R
ATINGS LABEL AFFIXED IN DWELL
-
18
ING
.—A permanent label documenting the rat-
19
ings in subparagraph (B) shall be affixed to the
20
front of the electrical distribution panel of the
21
qualifying new home, or shall be otherwise per-
22
manently displayed in a readily inspectable lo-
23
cation in such home.
24
‘‘(4) R
EGULATIONS
.—
25
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‘‘(A) I
N GENERAL
.—In prescribing regula-
1
tions under this subsection for performance-based
2
certification methods, the Secretary, after exam-
3
ining the requirements for energy consultants
4
and home energy ratings providers specified by
5
the Mortgage Industry National Accreditation
6
Procedures for Home Energy Rating Systems,
7
shall prescribe procedures for calculating annual
8
energy usage and cost reductions for heating and
9
cooling and for the reporting of the results. Such
10
regulations shall—
11
‘‘(i) provide that any calculation pro-
12
cedures be fuel neutral such that the same
13
energy efficiency measures allow a quali-
14
fying new home to be eligible for the credit
15
under this section regardless of whether such
16
home uses a gas or oil furnace or boiler or
17
an electric heat pump, and
18
‘‘(ii) require that any computer soft-
19
ware allow for the printing of the Federal
20
tax forms necessary for the credit under this
21
section and for the printing of forms for
22
disclosure to the homebuyer.
23
‘‘(B) P
ROVIDERS
.—For purposes of para-
24
graph (2)(B), the Secretary shall establish re-
25
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HR 6 EAS1S/PP
quirements for the designation of individuals
1
based on the requirements for energy consultants
2
and home energy raters specified by the Mort-
3
gage Industry National Accreditation Procedures
4
for Home Energy Rating Systems.
5
‘‘(e) T
ERMINATION
.—Subsection (a) shall apply to
6
qualifying new homes purchased during the period begin-
7
ning on the date of the enactment of this section and ending
8
on December 31, 2007.’’.
9
(b) C
REDIT
M
ADE
P
ART
OF
G
ENERAL
B
USINESS
10
C
REDIT
.—Subsection (b) of section 38 (relating to current
11
year business credit), as amended by this Act, is amended
12
by striking ‘‘plus’’ at the end of paragraph (16), by striking
13
the period at the end of paragraph (17) and inserting ‘‘,
14
plus’’, and by adding at the end the following new para-
15
graph:
16
‘‘(18) the new energy efficient home credit deter-
17
mined under section 45G(a).’’.
18
(c) D
ENIAL OF
D
OUBLE
B
ENEFIT
.—Section 280C (re-
19
lating to certain expenses for which credits are allowable)
20
is amended by adding at the end the following new sub-
21
section:
22
‘‘(d) N
EW
E
NERGY
E
FFICIENT
H
OME
E
XPENSES
.—No
23
deduction shall be allowed for that portion of expenses for
24
a qualifying new home otherwise allowable as a deduction
25
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HR 6 EAS1S/PP
for the taxable year which is equal to the amount of the
1
credit determined for such taxable year under section
2
45G(a).’’.
3
(d) L
IMITATION ON
C
ARRYBACK
.—Subsection (d) of
4
section 39, as amended by this Act, is amended by adding
5
at the end the following new paragraph:
6
‘‘(13) N
O CARRYBACK OF NEW ENERGY EFFI
-
7
CIENT HOME CREDIT BEFORE EFFECTIVE DATE
.—No
8
portion of the unused business credit for any taxable
9
year which is attributable to the credit determined
10
under section 45G may be carried back to any taxable
11
year ending on or before the date of the enactment of
12
section 45G.’’.
13
(e) D
EDUCTION
FOR
C
ERTAIN
U
NUSED
B
USINESS
14
C
REDITS
.—Subsection (c) of section 196, as amended by
15
this Act, is amended by striking ‘‘and’’ at the end of para-
16
graph (10), by striking the period at the end of paragraph
17
(11) and inserting ‘‘, and’’, and by adding after paragraph
18
(11) the following new paragraph:
19
‘‘(12) the new energy efficient home credit deter-
20
mined under section 45G(a).’’.
21
(f) C
LERICAL
A
MENDMENT
.—The table of sections for
22
subpart D of part IV of subchapter A of chapter 1, as
23
amended by this Act, is amended by adding at the end the
24
following new item:
25
‘‘Sec. 45G. New energy efficient home credit.’’.
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HR 6 EAS1S/PP
(g) E
FFECTIVE
D
ATE
.—The amendments made by this
1
section shall apply to taxable years ending after the date
2
of the enactment of this Act.
3
SEC. 2102. CREDIT FOR ENERGY EFFICIENT APPLIANCES.
4
(a) I
N
G
ENERAL
.—Subpart D of part IV of subchapter
5
A of chapter 1 (relating to business-related credits), as
6
amended by this Act, is amended by adding at the end the
7
following new section:
8
‘‘SEC. 45H. ENERGY EFFICIENT APPLIANCE CREDIT.
9
‘‘(a) G
ENERAL
R
ULE
.—For purposes of section 38, the
10
energy efficient appliance credit determined under this sec-
11
tion for the taxable year is an amount equal to the applica-
12
ble amount determined under subsection (b) with respect
13
to the eligible production of qualified energy efficient appli-
14
ances produced by the taxpayer during the calendar year
15
ending with or within the taxable year.
16
‘‘(b) A
PPLICABLE
A
MOUNT
; E
LIGIBLE
P
RODUCTION
.—
17
For purposes of subsection (a)—
18
‘‘(1) A
PPLICABLE
AMOUNT
.—The applicable
19
amount is—
20
‘‘(A) $50, in the case of—
21
‘‘(i) a clothes washer which is manu-
22
factured with at least a 1.26 MEF, or
23
‘‘(ii) a refrigerator which consumes at
24
least 10 percent less kWh per year than the
25
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HR 6 EAS1S/PP
energy conservation standards for refrig-
1
erators promulgated by the Department of
2
Energy effective July 1, 2001, and
3
‘‘(B) $100, in the case of—
4
‘‘(i) a clothes washer which is manu-
5
factured with at least a 1.42 MEF (at least
6
1.5 MEF for washers produced after 2004),
7
or
8
‘‘(ii) a refrigerator which consumes at
9
least 15 percent less kWh per year than
10
such energy conservation standards.
11
‘‘(2) E
LIGIBLE PRODUCTION
.—
12
‘‘(A) I
N GENERAL
.—The eligible production
13
of each category of qualified energy efficient ap-
14
pliances is the excess of—
15
‘‘(i) the number of appliances in such
16
category which are produced by the tax-
17
payer during such calendar year, over
18
‘‘(ii) the average number of appliances
19
in such category which were produced by
20
the taxpayer during calendar years 1999,
21
2000, and 2001.
22
‘‘(B) C
ATEGORIES
.—For purposes of sub-
23
paragraph (A), the categories are—
24
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HR 6 EAS1S/PP
‘‘(i) clothes washers described in para-
1
graph (1)(A)(i),
2
‘‘(ii) clothes washers described in para-
3
graph (1)(B)(i),
4
‘‘(iii) refrigerators described in para-
5
graph (1)(A)(ii), and
6
‘‘(iv) refrigerators described in para-
7
graph (1)(B)(ii).
8
‘‘(c) L
IMITATION ON
M
AXIMUM
C
REDIT
.—
9
‘‘(1) I
N GENERAL
.—The maximum amount of
10
credit allowed under subsection (a) with respect to a
11
taxpayer for all taxable years shall be—
12
‘‘(A) $30,000,000 with respect to the credit
13
determined under subsection (b)(1)(A), and
14
‘‘(B) $30,000,000 with respect to the credit
15
determined under subsection (b)(1)(B).
16
‘‘(2) L
IMITATION BASED ON GROSS RECEIPTS
.—
17
The credit allowed under subsection (a) with respect
18
to a taxpayer for the taxable year shall not exceed an
19
amount equal to 2 percent of the average annual gross
20
receipts of the taxpayer for the 3 taxable years pre-
21
ceding the taxable year in which the credit is deter-
22
mined.
23
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‘‘(3) G
ROSS
RECEIPTS
.—For purposes of this
1
subsection, the rules of paragraphs (2) and (3) of sec-
2
tion 448(c) shall apply.
3
‘‘(d) D
EFINITIONS
.—For purposes of this section—
4
‘‘(1) Q
UALIFIED
ENERGY
EFFICIENT
APPLI
-
5
ANCE
.—The term ‘qualified energy efficient appliance’
6
means—
7
‘‘(A) a clothes washer described in subpara-
8
graph (A)(i) or (B)(i) of subsection (b)(1), or
9
‘‘(B) a refrigerator described in subpara-
10
graph (A)(ii) or (B)(ii) of subsection (b)(1).
11
‘‘(2) C
LOTHES
WASHER
.—The term ‘clothes
12
washer’ means a residential clothes washer, including
13
a residential style coin operated washer.
14
‘‘(3) R
EFRIGERATOR
.—The term ‘refrigerator’
15
means an automatic defrost refrigerator-freezer which
16
has an internal volume of at least 16.5 cubic feet.
17
‘‘(4) MEF.—The term ‘MEF’ means Modified
18
Energy Factor (as determined by the Secretary of En-
19
ergy).
20
‘‘(e) S
PECIAL
R
ULES
.—
21
‘‘(1) I
N GENERAL
.—Rules similar to the rules of
22
subsections (c), (d), and (e) of section 52 shall apply
23
for purposes of this section.
24
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HR 6 EAS1S/PP
‘‘(2) A
GGREGATION RULES
.—All persons treated
1
as a single employer under subsection (a) or (b) of
2
section 52 or subsection (m) or (o) of section 414 shall
3
be treated as 1 person for purposes of subsection (a).
4
‘‘(f) V
ERIFICATION
.—The taxpayer shall submit such
5
information or certification as the Secretary, in consulta-
6
tion with the Secretary of Energy, determines necessary to
7
claim the credit amount under subsection (a).
8
‘‘(g) T
ERMINATION
.—This section shall not apply—
9
‘‘(1) with respect to refrigerators described in
10
subsection (b)(1)(A)(ii) produced after December 31,
11
2004, and
12
‘‘(2) with respect to all other qualified energy ef-
13
ficient appliances produced after December 31,
14
2006.’’.
15
(b) L
IMITATION ON
C
ARRYBACK
.—Section 39(d) (relat-
16
ing to transition rules), as amended by this Act, is amended
17
by adding at the end the following new paragraph:
18
‘‘(14) N
O CARRYBACK OF ENERGY EFFICIENT AP
-
19
PLIANCE CREDIT BEFORE EFFECTIVE DATE
.—No por-
20
tion of the unused business credit for any taxable year
21
which is attributable to the energy efficient appliance
22
credit determined under section 45H may be carried
23
to a taxable year ending before January 1, 2003.’’.
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HR 6 EAS1S/PP
(c) C
ONFORMING
A
MENDMENT
.—Section 38(b) (relat-
1
ing to general business credit), as amended by this Act, is
2
amended by striking ‘‘plus’’ at the end of paragraph (17),
3
by striking the period at the end of paragraph (18) and
4
inserting ‘‘, plus’’, and by adding at the end the following
5
new paragraph:
6
‘‘(19) the energy efficient appliance credit deter-
7
mined under section 45H(a).’’.
8
(d) C
LERICAL
A
MENDMENT
.—The table of sections for
9
subpart D of part IV of subchapter A of chapter 1, as
10
amended by this Act, is amended by adding at the end the
11
following new item:
12
‘‘Sec. 45H. Energy efficient appliance credit.’’.
(e) E
FFECTIVE
D
ATE
.—The amendments made by this
13
section shall apply to appliances produced after December
14
31, 2002, in taxable years ending after such date.
15
SEC. 2103. CREDIT FOR RESIDENTIAL ENERGY EFFICIENT
16
PROPERTY.
17
(a) I
N
G
ENERAL
.—Subpart A of part IV of subchapter
18
A of chapter 1 (relating to nonrefundable personal credits)
19
is amended by inserting after section 25B the following new
20
section:
21
‘‘SEC. 25C. RESIDENTIAL ENERGY EFFICIENT PROPERTY.
22
‘‘(a) A
LLOWANCE OF
C
REDIT
.—In the case of an indi-
23
vidual, there shall be allowed as a credit against the tax
24
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HR 6 EAS1S/PP
imposed by this chapter for the taxable year an amount
1
equal to the sum of—
2
‘‘(1) 15 percent of the qualified photovoltaic
3
property expenditures made by the taxpayer during
4
such year,
5
‘‘(2) 15 percent of the qualified solar water heat-
6
ing property expenditures made by the taxpayer dur-
7
ing such year,
8
‘‘(3) 30 percent of the qualified fuel cell property
9
expenditures made by the taxpayer during such year,
10
‘‘(4) 30 percent of the qualified wind energy
11
property expenditures made by the taxpayer during
12
such year, and
13
‘‘(5) the sum of the qualified Tier 2 energy effi-
14
cient building property expenditures made by the tax-
15
payer during such year.
16
‘‘(b) L
IMITATIONS
.—
17
‘‘(1) M
AXIMUM
CREDIT
.—The credit allowed
18
under subsection (a) shall not exceed—
19
‘‘(A) $2,000 for property described in sub-
20
section (d)(1),
21
‘‘(B) $2,000 for property described in sub-
22
section (d)(2),
23
‘‘(C) $1,000 for each kilowatt of capacity of
24
property described in subsection (d)(4),
25
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