HR 6 EAS1S/PP
‘‘(D) $2,000 for property described in sub-
1
section (d)(5), and
2
‘‘(E) for property described in subsection
3
(d)(6)—
4
‘‘(i) $75 for each electric heat pump
5
water heater,
6
‘‘(ii) $250 for each electric heat pump,
7
‘‘(iii) $250 for each advanced natural
8
gas furnace,
9
‘‘(iv) $250 for each central air condi-
10
tioner,
11
‘‘(v) $75 for each natural gas water
12
heater, and
13
‘‘(vi) $250 for each geothermal heat
14
pump.
15
‘‘(2) S
AFETY CERTIFICATIONS
.—No credit shall
16
be allowed under this section for an item of property
17
unless—
18
‘‘(A) in the case of solar water heating
19
property, such property is certified for perform-
20
ance and safety by the non-profit Solar Rating
21
Certification Corporation or a comparable entity
22
endorsed by the government of the State in which
23
such property is installed,
24
†
820
HR 6 EAS1S/PP
‘‘(B) in the case of a photovoltaic property,
1
a fuel cell property, or a wind energy property,
2
such property meets appropriate fire and electric
3
code requirements, and
4
‘‘(C) in the case of property described in
5
subsection (d)(6), such property meets the per-
6
formance and quality standards, and the certifi-
7
cation requirements (if any), which—
8
‘‘(i) have been prescribed by the Sec-
9
retary by regulations (after consultation
10
with the Secretary of Energy or the Admin-
11
istrator of the Environmental Protection
12
Agency, as appropriate),
13
‘‘(ii) in the case of the energy efficiency
14
ratio (EER)—
15
‘‘(I) require measurements to be
16
based on published data which is tested
17
by manufacturers at 95 degrees Fahr-
18
enheit, and
19
‘‘(II) do not require ratings to be
20
based on certified data of the Air Con-
21
ditioning and Refrigeration Institute,
22
and
23
‘‘(iii) are in effect at the time of the
24
acquisition of the property.
25
†
821
HR 6 EAS1S/PP
‘‘(c) C
ARRYFORWARD OF
U
NUSED
C
REDIT
.—If the
1
credit allowable under subsection (a) exceeds the limitation
2
imposed by section 26(a) for such taxable year reduced by
3
the sum of the credits allowable under this subpart (other
4
than this section and section 25D), such excess shall be car-
5
ried to the succeeding taxable year and added to the credit
6
allowable under subsection (a) for such succeeding taxable
7
year.
8
‘‘(d) D
EFINITIONS
.—For purposes of this section—
9
‘‘(1) Q
UALIFIED SOLAR WATER HEATING PROP
-
10
ERTY EXPENDITURE
.—The term ‘qualified solar water
11
heating property expenditure’ means an expenditure
12
for property to heat water for use in a dwelling unit
13
located in the United States and used as a residence
14
by the taxpayer if at least half of the energy used by
15
such property for such purpose is derived from the
16
sun.
17
‘‘(2) Q
UALIFIED PHOTOVOLTAIC PROPERTY EX
-
18
PENDITURE
.—The term ‘qualified photovoltaic prop-
19
erty expenditure’ means an expenditure for property
20
that uses solar energy to generate electricity for use
21
in such a dwelling unit.
22
‘‘(3) S
OLAR PANELS
.—No expenditure relating to
23
a solar panel or other property installed as a roof (or
24
portion thereof) shall fail to be treated as property de-
25
†
822
HR 6 EAS1S/PP
scribed in paragraph (1) or (2) solely because it con-
1
stitutes a structural component of the structure on
2
which it is installed.
3
‘‘(4) Q
UALIFIED FUEL CELL PROPERTY EXPENDI
-
4
TURE
.—The term ‘qualified fuel cell property expend-
5
iture’ means an expenditure for qualified fuel cell
6
property (as defined in section 48(a)(4)) installed on
7
or in connection with such a dwelling unit.
8
‘‘(5) Q
UALIFIED WIND ENERGY PROPERTY EX
-
9
PENDITURE
.—The term ‘qualified wind energy prop-
10
erty expenditure’ means an expenditure for property
11
which uses wind energy to generate electricity for use
12
in such a dwelling unit.
13
‘‘(6) Q
UALIFIED
TIER
2
ENERGY
EFFICIENT
14
BUILDING PROPERTY EXPENDITURE
.—
15
‘‘(A) I
N
GENERAL
.—The term ‘qualified
16
Tier 2 energy efficient building property expend-
17
iture’ means an expenditure for any Tier 2 en-
18
ergy efficient building property.
19
‘‘(B) T
IER 2 ENERGY EFFICIENT BUILDING
20
PROPERTY
.—The term ‘Tier 2 energy efficient
21
building property’ means—
22
‘‘(i) an electric heat pump water heater
23
which yields an energy factor of at least 1.7
24
†
823
HR 6 EAS1S/PP
in the standard Department of Energy test
1
procedure,
2
‘‘(ii) an electric heat pump which has
3
a heating seasonal performance factor
4
(HSPF) of at least 9, a seasonal energy effi-
5
ciency ratio (SEER) of at least 15, and an
6
energy efficiency ratio (EER) of at least
7
12.5,
8
‘‘(iii) an advanced natural gas furnace
9
which achieves at least 95 percent annual
10
fuel utilization efficiency (AFUE),
11
‘‘(iv) a central air conditioner which
12
has a seasonal energy efficiency ratio
13
(SEER) of at least 15 and an energy effi-
14
ciency ratio (EER) of at least 12.5,
15
‘‘(v) a natural gas water heater which
16
has an energy factor of at least 0.80 in the
17
standard Department of Energy test proce-
18
dure, and
19
‘‘(vi) a geothermal heat pump which
20
has an energy efficiency ratio (EER) of at
21
least 21.
22
‘‘(7) L
ABOR
COSTS
.—Expenditures for labor
23
costs properly allocable to the onsite preparation, as-
24
sembly, or original installation of the property de-
25
†
824
HR 6 EAS1S/PP
scribed in paragraph (1), (2), (4), (5), or (6) and for
1
piping or wiring to interconnect such property to the
2
dwelling unit shall be taken into account for purposes
3
of this section.
4
‘‘(8) S
WIMMING POOLS
,
ETC
.,
USED AS STORAGE
5
MEDIUM
.—Expenditures which are properly allocable
6
to a swimming pool, hot tub, or any other energy
7
storage medium which has a function other than the
8
function of such storage shall not be taken into ac-
9
count for purposes of this section.
10
‘‘(e) S
PECIAL
R
ULES
.—For purposes of this section—
11
‘‘(1) D
OLLAR AMOUNTS IN CASE OF JOINT OCCU
-
12
PANCY
.—In the case of any dwelling unit which is
13
jointly occupied and used during any calendar year
14
as a residence by 2 or more individuals the following
15
shall apply:
16
‘‘(A) The amount of the credit allowable,
17
under subsection (a) by reason of expenditures
18
(as the case may be) made during such calendar
19
year by any of such individuals with respect to
20
such dwelling unit shall be determined by treat-
21
ing all of such individuals as 1 taxpayer whose
22
taxable year is such calendar year.
23
‘‘(B) There shall be allowable, with respect
24
to such expenditures to each of such individuals,
25
†
825
HR 6 EAS1S/PP
a credit under subsection (a) for the taxable year
1
in which such calendar year ends in an amount
2
which bears the same ratio to the amount deter-
3
mined under subparagraph (A) as the amount of
4
such expenditures made by such individual dur-
5
ing such calendar year bears to the aggregate of
6
such expenditures made by all of such individ-
7
uals during such calendar year.
8
‘‘(2) T
ENANT
-
STOCKHOLDER
IN
COOPERATIVE
9
HOUSING
CORPORATION
.—In the case of an indi-
10
vidual who is a tenant-stockholder (as defined in sec-
11
tion 216) in a cooperative housing corporation (as de-
12
fined in such section), such individual shall be treated
13
as having made his tenant-stockholder’s proportionate
14
share (as defined in section 216(b)(3)) of any expend-
15
itures of such corporation.
16
‘‘(3) C
ONDOMINIUMS
.—
17
‘‘(A) I
N GENERAL
.—In the case of an indi-
18
vidual who is a member of a condominium man-
19
agement association with respect to a condo-
20
minium which the individual owns, such indi-
21
vidual shall be treated as having made the indi-
22
vidual’s proportionate share of any expenditures
23
of such association.
24
†
826
HR 6 EAS1S/PP
‘‘(B) C
ONDOMINIUM MANAGEMENT ASSOCIA
-
1
TION
.—For purposes of this paragraph, the term
2
‘condominium management association’ means
3
an organization which meets the requirements of
4
paragraph (1) of section 528(c) (other than sub-
5
paragraph (E) thereof) with respect to a condo-
6
minium project substantially all of the units of
7
which are used as residences.
8
‘‘(4) A
LLOCATION IN CERTAIN CASES
.—Except in
9
the case of qualified wind energy property expendi-
10
tures, if less than 80 percent of the use of an item is
11
for nonbusiness purposes, only that portion of the ex-
12
penditures for such item which is properly allocable
13
to use for nonbusiness purposes shall be taken into ac-
14
count.
15
‘‘(5) W
HEN EXPENDITURE MADE
;
AMOUNT OF
16
EXPENDITURE
.—
17
‘‘(A) I
N GENERAL
.—Except as provided in
18
subparagraph (B), an expenditure with respect
19
to an item shall be treated as made when the
20
original installation of the item is completed.
21
‘‘(B) E
XPENDITURES
PART
OF
BUILDING
22
CONSTRUCTION
.—In the case of an expenditure
23
in connection with the construction or recon-
24
struction of a structure, such expenditure shall be
25
†
827
HR 6 EAS1S/PP
treated as made when the original use of the con-
1
structed or reconstructed structure by the tax-
2
payer begins.
3
‘‘(C) A
MOUNT
.—The amount of any expend-
4
iture shall be the cost thereof.
5
‘‘(6) P
ROPERTY FINANCED BY SUBSIDIZED EN
-
6
ERGY FINANCING
.—For purposes of determining the
7
amount of expenditures made by any individual with
8
respect to any dwelling unit, there shall not be taken
9
in to account expenditures which are made from sub-
10
sidized energy financing (as defined in section
11
48(a)(5)(C)).
12
‘‘(f) B
ASIS
A
DJUSTMENTS
.—For purposes of this sub-
13
title, if a credit is allowed under this section for any ex-
14
penditure with respect to any property, the increase in the
15
basis of such property which would (but for this subsection)
16
result from such expenditure shall be reduced by the amount
17
of the credit so allowed.
18
‘‘(g) T
ERMINATION
.—The credit allowed under this
19
section shall not apply to expenditures after December 31,
20
2007.’’.
21
(b) C
REDIT
A
LLOWED
A
GAINST
R
EGULAR
T
AX AND
22
A
LTERNATIVE
M
INIMUM
T
AX
.—
23
†
828
HR 6 EAS1S/PP
(1) I
N GENERAL
.—Section 25C(b), as added by
1
subsection (a), is amended by adding at the end the
2
following new paragraph:
3
‘‘(3) L
IMITATION BASED ON AMOUNT OF TAX
.—
4
The credit allowed under subsection (a) for the tax-
5
able year shall not exceed the excess of—
6
‘‘(A) the sum of the regular tax liability (as
7
defined in section 26(b)) plus the tax imposed by
8
section 55, over
9
‘‘(B) the sum of the credits allowable under
10
this subpart (other than this section and section
11
25D) and section 27 for the taxable year.’’.
12
(2) C
ONFORMING AMENDMENTS
.—
13
(A) Section 25C(c), as added by subsection
14
(a), is amended by striking ‘‘section 26(a) for
15
such taxable year reduced by the sum of the cred-
16
its allowable under this subpart (other than this
17
section and section 25D)’’ and inserting ‘‘sub-
18
section (b)(3)’’.
19
(B) Section 23(b)(4)(B) is amended by in-
20
serting ‘‘and section 25C’’ after ‘‘this section’’.
21
(C) Section 24(b)(3)(B) is amended by
22
striking ‘‘23 and 25B’’ and inserting ‘‘23, 25B,
23
and 25C’’.
24
†
829
HR 6 EAS1S/PP
(D) Section 25(e)(1)(C) is amended by in-
1
serting ‘‘25C,’’ after ‘‘25B,’’.
2
(E) Section 25B(g)(2) is amended by strik-
3
ing ‘‘section 23’’ and inserting ‘‘sections 23 and
4
25C’’.
5
(F) Section 26(a)(1) is amended by striking
6
‘‘and 25B’’ and inserting ‘‘25B, and 25C’’.
7
(G) Section 904(h) is amended by striking
8
‘‘and 25B’’ and inserting ‘‘25B, and 25C’’.
9
(H) Section 1400C(d) is amended by strik-
10
ing ‘‘and 25B’’ and inserting ‘‘25B, and 25C’’.
11
(c) A
DDITIONAL
C
ONFORMING
A
MENDMENTS
.—
12
(1) Section 23(c), as in effect for taxable years
13
beginning before January 1, 2004, is amended by
14
striking ‘‘section 1400C’’ and inserting ‘‘sections 25C
15
and 1400C’’.
16
(2) Section 25(e)(1)(C), as in effect for taxable
17
years beginning before January 1, 2004, is amended
18
by inserting ‘‘, 25Cs,’’ after ‘‘sections 23’’.
19
(3) Subsection (a) of section 1016, as amended
20
by this Act, is amended by striking ‘‘and’’ at the end
21
of paragraph (29), by striking the period at the end
22
of paragraph (30) and inserting ‘‘, and’’, and by add-
23
ing at the end the following new paragraph:
24
†
830
Do'stlaringiz bilan baham: | 
