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Tax Credits for Geothermal Heat Pumps: Boosting Green Heating Solutions

This bill modifies tax credits to align support for geothermal heat pumps with other renewable energy technologies. This means individuals installing geothermal heat pumps may qualify for larger tax deductions, reducing upfront costs and encouraging the adoption of more environmentally friendly heating systems in homes and businesses.
Key points
Increased tax credits for installing geothermal heat pumps, potentially lowering purchase and installation costs.
Support for eco-friendly heating systems, contributing to reduced energy consumption and emissions.
Credits will gradually decrease in future years, so earlier installation may yield greater benefits.
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Expired
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Additional Information
Print number: 117_HR_3920
Sponsor: Rep. Suozzi, Thomas R. [D-NY-3]
Process start date: 2021-06-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

GET Parity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3920.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-06-15.

What are the main provisions?

Key points include:

  • Increased tax credits for installing geothermal heat pumps, potentially lowering purchase and installation costs.
  • Support for eco-friendly heating systems, contributing to reduced energy consumption and emissions.
  • Credits will gradually decrease in future years, so earlier installation may yield greater benefits.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Suozzi, Thomas R. [D-NY-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Environment