PART III—ENERGY CONSERVATION INCENTIVESIt then lists some detailed modifications to the requirements for the following:
SEC. 1121. EXTENSION AND MODIFICATION OF CREDIT FOR
NONBUSINESS ENERGY PROPERTY.
IN GENERAL.—Section 25C is amended by strik-
ing subsections (a) and (b) and inserting the following new
subsections:
‘‘(a) ALLOWANCE
OF CREDIT.—In the case of an in-
dividual, there shall be allowed as a credit against the tax
imposed by this chapter for the taxable year an amount
equal to 30 percent of the sum of—
‘‘(1) the amount paid or incurred by the tax-
payer during such taxable year for qualified energy
efficiency improvements, and
‘‘(2) the amount of the residential energy prop-
erty expenditures paid or incurred by the taxpayer
during such taxable year.
‘‘(b) LIMITATION.—The aggregate amount of the
credits allowed under this section for taxable years begin-
ning in 2009 and 2010 with respect to any taxpayer shall
not exceed $1,500.’’.
posted by chrisamiller at 9:14 AM on February 14, 2009 [1 favorite]