3.0.0 1345 2026-01-30T14:58:23Z 2026-01-30T14:58:23Z Senate S S 2025-04-08 119 https://www.congress.gov/bill/119th-congress/senate-bill/1345 ssfi00 Finance Committee Senate Standing Referred To 2025-04-08T20:03:10Z 2025-04-08 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2025-04-08 Introduced in Senate IntroReferral 10000 9 Library of Congress K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. N C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2025-04-08 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2025-04-08 True H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2025-04-09 False M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2025-05-05 False Taxation Taxation 2025-05-09T17:44:01Z

00 2025-04-08 Introduced in Senate 2026-01-30T14:56:16Z <p><strong>America's First Fuels Act</strong></p><p>This bill increases the federal energy efficient home improvement tax credit amount allowed for installing a biomass stove or biomass boiler in a principal residence. The bill also establishes a new federal tax credit (as part of the general business tax credit) for investments in open-loop biomass heating property.</p><p>Specifically, the bill increases to $10,000 the annual maximum amount of the energy efficient home improvement tax credit allowed for installing a biomass stove or biomass boiler in a principal residence. (Under current law, taxpayers may claim a tax credit of 30% of the cost, up to an annual maximum of $2,000, to install a biomass stove, a biomass boiler, or certain other energy-efficient property in a principal residence.)</p><p>The bill also establishes a new business tax credit for 30% of the cost of any property which (1) uses open-loop biomass to produce thermal energy in the form of heat, hot water, hot air, or steam; and (2) is used for space heating, air conditioning, domestic hot water, or industrial process heat (or any combination of such uses). (Conditions apply.)</p><p>However, the tax credit is reduced for open-loop biomass heating property financed with tax-exempt bonds.</p><p>Finally, under the bill, businesses may elect to claim the tax credit for qualified open-loop biomass heating property progress expenses (expenses incurred in advance of placing such property in service) if the normal construction period for such property is two years or more and certain other conditions are met. &nbsp;</p>

Display Title 45 2025-05-06T11:03:16Z Short Title(s) as Introduced 101 2025-04-23T02:53:18Z Introduced in Senate IS Official Title as Introduced 6 2025-04-23T02:48:22Z Introduced in Senate IS Introduced in Senate 2025-04-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119s1345is/xml/BILLS-119s1345is.xml 2025-04-08 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.