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Higher Tax Credits for Biomass Stoves and Boilers

This bill increases the maximum tax credit you can receive for purchasing and installing biomass stoves and boilers. This means if you're planning to invest in more environmentally friendly home heating, you could get a larger refund from the government. These changes apply to equipment placed in service after December 31, 2022.
Key points
Increased maximum tax credit for certain biomass stoves and boilers to $2,000.
Increased maximum tax credit for other biomass heating property to $8,000.
Changes apply to equipment installed after December 31, 2022, potentially lowering home upgrade costs.
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Additional Information
Print number: 117_S_5192
Sponsor: Sen. King, Angus S., Jr. [I-ME]
Process start date: 2022-12-06