1.This Act may be cited as the
Home Heating Fuels Cost Relief Act of
2009
.
2.Refundable credit for certain individuals
using home heating fuels
(a)Subpart C of part IV of subchapter A of
chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits)
is amended by inserting before section 37 the following new section:
36B.Use of home heating fuels in homes
(a)In the case of an eligible individual,
there shall be allowed as a credit against the tax imposed by this subtitle for
the taxable year an amount equal to the amounts paid or incurred by the
taxpayer during the taxable year for heating oil, natural gas, and propane used
to heat the principal place of abode of the taxpayer.
(b)
(1)Limitation based on dollar
amountThe amount allowed as
a credit under subsection (a) for any taxable year shall not exceed $1,000
($2,000 in the case of a joint return).
(2)Limitation based on adjusted gross
incomeNo amount shall be
allowed as a credit under subsection (a) for a taxable year in the case of a
taxpayer whose adjusted gross income exceeds $100,000 ($200,000 in the case of
a joint return).
(c)
(1)For purposes of this section, the term
eligible individual means any individual whose principal place of
abode is in the United States.
(2)Except as provided in paragraph (3), such
term shall not include any individual—
(A)who is not a citizen or lawful permanent
resident of the United States, or
(B)with respect to whom a deduction under
section 151 is allowed to another taxpayer for a taxable year beginning in the
calendar year in which such individual’s taxable year begins.
(3)Special rule for married
individualsIn the case of
persons married to each other, if one spouse is an eligible individual, the
other spouse shall be treated as an eligible individual for purposes of this
subsection.
(d)No other credit or deduction shall be
allowed under this chapter for any expense for which a credit is allowed under
subsection (a).
(e)This section shall not apply to any taxable
year beginning after December 31,
2010.
.
(b)Paragraph (2) of section 1324(b) of title
31, United States Code, is amended by inserting 36B,
after
36A,
.
(c)The table of sections for subpart C of part
IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended
by inserting before the item relating to section 37 the following new
item:
Sec. 36B. Use of home heating
fuels in
homes.
.
(d)The amendments made by
this section shall apply to taxable years beginning after December 31,
2008.
3.Grants to States to create home
weatherization loan programs
(a)In this section:
(1)The term eligible individual
means an individual—
(A)with a principal place of residence in the
United States;
(B)who is a citizen or lawful permanent
resident of the United States; and
(C)with respect to whom a deduction under
section 151 of the Internal Revenue Code of 1986 is not allowed to another
taxpayer for a taxable year beginning in the calendar year in which the taxable
year of the individual begins.
(2)The term Secretary means the
Secretary of the Treasury.
(3)The term State means—
(A)a State;
(B)the District of Columbia;
(C)the Commonwealth of Puerto Rico; and
(D)any other territory or possession of the
United States.
(4)The term State loan fund means
a weatherization revolving loan fund of a State established under subsection
(c).
(5)The term weatherization
materials means—
(A)caulking and weatherstripping of doors and
windows;
(B)furnace efficiency modifications,
including—
(i)replacement burners, furnaces, boilers, or
any combination thereof;
(ii)devices for minimizing energy loss through
heating system, chimney, or venting devices; and
(iii)electrical or mechanical furnace ignition
systems that replace standing gas pilot lights;
(C)clock thermostats;
(D)ceiling, attic, wall, floor, and duct
insulation;
(E)water heater insulation;
(F)storm windows and doors, multiglazed
windows and doors, and heat-absorbing or heat-reflective window and door
materials;
(G)cooling efficiency modifications, including
replacement air-conditioners, ventilation equipment, screening, window films,
and shading devices;
(H)solar thermal water heaters;
(I)wood-heating appliances; and
(J)such other insulating or energy conserving
devices or technologies as are determined by the Secretary, after consultation
with the Secretary of Housing and Urban Development, the Secretary of
Agriculture, and the Office of Community Services of the Department of Health
and Human Services.
(b)The Secretary shall carry out a program to
make grants to States in accordance with this section to create revolving loan
funds to provide eligible individuals with loans to purchase weatherization
materials for the purpose of weatherizing the principal place of residence of
an individual.
(c)To be eligible to receive a grant under
this section, a State shall agree—
(1)to establish a weatherization revolving
loan fund;
(2)to deposit the grant in the State loan
fund; and
(3)to comply with the other requirements of
this section.
(d)
(1)A State that seeks to receive a grant under
this section may submit to the Secretary an application for the grant at such
time, in such form, and containing such information as the Secretary may
prescribe.
(2)Determination of grant
amountsIn determining the
amount of the grant awarded to a State, the Secretary shall consider—
(A)the incidence of extreme winter or summer
temperatures within the State;
(B)the average age of homes within the State;
and
(C)such other factors as the Secretary
determines are appropriate.
(e)
(1)Amounts deposited in a State loan fund
(including loan repayments and interest earned on the amounts) shall be used
only for providing loans to eligible individuals to purchase weatherization
materials for the purpose of weatherizing the principal place of residence of
an individual.
(2)
(A)Subject to subparagraph (B), the total
amount of all loans made from a State loan fund to an eligible individual
during a calendar year may not exceed $5,000.
(B)The combined amount of all loans made from
the State loan fund to eligible individuals living within a single dwelling
during a calendar year may not exceed $10,000.
(3)The annual interest
rate for a loan made from a State loan fund shall be—
(A)in the case of an eligible individual with
an adjusted gross income for the previous taxable year of $100,000 or less, 1
percent; and
(B)in the case of an eligible individual with
an adjusted gross income for the previous taxable year of more than $100,000
but not more than $200,000, 2 percent.
(4)An eligible individual with an adjusted
gross income of more than $200,000 shall not be eligible for a loan made from a
State loan fund.
(5)In order to receive
a loan from a State loan fund, an eligible individual shall enter into an
agreement with the State to repay the full amount of the loan, plus interest,
by a date that is not more than 2 years after the date on which the individual
receives the loan funds.
(f)Each State receiving a grant under this
section shall submit an annual report to the Secretary describing the use of
funds from the State loan fund.
(g)The Secretary shall submit to Congress an
annual report describing the distribution of grant funds under this section,
including a copy of each report submitted to the Secretary pursuant to
subsection (f).
(h)Authorization of
appropriationsThere are
authorized to be appropriated to the Secretary to carry out this section such
sums as are necessary.