VIEWS: 5 PAGES: 2 CATEGORY: Engineering & Energy POSTED ON: 6/11/2010
The Internal Revenue Code section 25 C tax credit for existing homes, which had expired at the end of 2007, was reinstated as part of the economic rescue package passed by the Bush Administration last fall.
S PE C I A LT Y N E W S & T R E N D S Green Tax Credits generated sales of almost $57 billion, according to a study released by the Freedonia Group, Inc., a Cleveland-based industry research firm. Although green building materials are expected Boost Incentives to account for an increasing share of materials used, growth will be driven primarily by the recovery of the residential market. xpanded tax credits for energy-efficient Pro Energy provides technical, operational Consumer Financing E home improvements in the new economic stimulus package are expected to provide and marketing support, as well as training. The total initial investment, including the franchisee GE Money/NKBA to Offer Credit additional financial incentive for homeowners to fee, is $35,000. GE Money and the National Kitchen and go green on their renovation projects in 2009 and Bath Association (NKBA) announced a multi- 2010, according to the NAHB Remodelers. year relationship to provide consumer financ- Congressional estimates indicate that the new ing. The Home Design program, a revolving rules for the tax incentive will increase aggregate Lead Abatement credit program backed by GE Money’s Sales remodeling activity by more than $6 billion. Finance unit, is now available nationwide The Internal Revenue Code section 25C tax First Part of EPA Rule Implemented through NKBA dealer, designer and builder/ credit for existing homes, which had expired at the Contractors perform- remodeler members. end of 2007, was reinstated as part of the economic ing renovation, repair Programs are available for both product rescue package passed by the Bush Administration and painting work purchases and customers making purchases that last fall. However, remodelers found that the terms that disturb lead-based involve a larger kitchen or bath project. The of the 25C credit — equal to only 10 percent of paint are required (as of credit program does not require transaction fees the cost of each product and with a lifetime cap December 2008) by the on standard sales. of $500 — weren’t strong enough to push enough Environmental Protection homeowners off the fence and into action.
Pages to are hidden for
"Green Tax Credits Boost Incentives"Please download to view full document