[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2059 Introduced in Senate (IS)]

113th CONGRESS
  2d Session
                                S. 2059

 To amend the Internal Revenue Code of 1986 to allow a credit for the 
 purchase of heating and cooling equipment which meets the Energy Star 
     program requirements and is used in certain high-cost energy 
                  communities, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 27, 2014

  Mr. Begich introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to allow a credit for the 
 purchase of heating and cooling equipment which meets the Energy Star 
     program requirements and is used in certain high-cost energy 
                  communities, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Energy Efficient Heating and Cooling 
Tax Credit Act''.

SEC. 2. CREDIT FOR CONVERSION OF HOME HEATING USING OIL FUEL TO USING 
              NATURAL GAS OR BIOMASS FEEDSTOCKS.

    (a) In General.--Subsection (a) of section 25C of the Internal 
Revenue Code of 1986 (relating to nonbusiness energy property) is 
amended by striking ``and'' at the end of paragraph (1), by striking 
the period at the end of paragraph (2) and inserting ``, and'', and by 
adding at the end the following new paragraph:
            ``(3) the amount of the qualifying heating conversion 
        expenditures paid or incurred by the taxpayer during such 
        taxable year.''.
    (b) Dollar Limitation.--
            (1) In general.--
                    (A) Limitation.--Subsection (b) of section 25C of 
                the Internal Revenue Code of 1986 is amended by adding 
                at the end the following new paragraph:
            ``(4) Limitation on qualifying heating conversion 
        expenditures.--The amount of the credit allowed under this 
        section by reason of paragraph (3) of subsection (a) for any 
        taxable year with respect to any taxpayer shall not exceed 
        $5,000.''.
                    (B) Conforming amendment.--Paragraph (1) of section 
                25C(b) of such Code is amended by inserting ``by reason 
                of paragraphs (1) and (2) of subsection (a)'' after 
                ``The credit allowed under this section''.
            (2) No double counting.--Section 25C(e) of such Code 
        (relating to special rules) is amended by adding at the end the 
        following new paragraph:
            ``(4) No double counting.--No amount taken into account for 
        purposes of determining a credit under this section by reason 
        of paragraph (3) of subsection (a) shall be taken into account 
        for purposes of determining a credit under this section by 
        reason of paragraphs (1) and (2) of subsection (a).''.
    (c) Qualifying Heating Conversion Expenditures.--Section 25C of the 
Internal Revenue Code of 1986 (relating to residential energy property 
expenditures) is amended by adding at the end the following new 
subsection:
    ``(h) Qualifying Heating Conversion Expenditures.--
            ``(1) In general.--The term `qualifying heating conversion 
        expenditures' means expenditures made by the taxpayer for 
        qualified heating conversion property which--
                    ``(A) meets the requirements of subparagraphs (A) 
                and (B) of subsection (d)(1), and
                    ``(B) is used as a heating or cooling system on a 
                building or structure located in a community (as 
                determined under section 19(a)(1) of the Rural 
                Electrification Act of 1936) in which the average 
                residential expenditure for home energy is more than 
                200 percent of the national average residential 
                expenditure for home energy (as determined by the 
                Energy Information Agency using the most recent data 
                available).
            ``(2) Amounts included.--The term `qualifying heating 
        conversion expenditures' includes expenditures--
                    ``(A) for labor costs properly allocable to the 
                onsite preparation, assembly, or original installation 
                of property described in paragraph (1), including fuel 
                service connection installation costs specifically 
                related to fuel service to the qualified energy 
                property used in such conversion, and
                    ``(B) the removal of the fuel oil equipment 
                (including any storage tank) for such a building or 
                structure.
            ``(3) Exclusions.--Such term does not include expenditures 
        for soil cleanup.
            ``(4) Qualified heating conversion property.--For purposes 
        of paragraph (1), the term `qualified heating conversion 
        property' means property which--
                    ``(A) is placed in service before January 1, 2019,
                    ``(B) meets the performance and quality standards 
                described in subsection (d)(2)(B), and
                    ``(C) is a product which qualifies under the Energy 
                Star program and meets the requirements for such 
                property under such program.''.
    (d) Conforming Amendment.--Subsection (g) of section 25C of the 
Internal Revenue Code of 1986 (relating to termination) is amended by 
striking ``This section'' and inserting ``Paragraphs (1) and (2) of 
subsection (a)''.
    (e) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.
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