Tax Credit for Indoor Air Quality Improvements in Public and Commercial Buildings.
This new law introduces a tax credit for businesses, non-profits, and public property owners who invest in better indoor air quality. This means places like schools, offices, and hospitals can receive financial relief for upgrading ventilation systems and filters. The goal is to improve public health by ensuring cleaner air in frequently visited locations, indirectly benefiting citizens' well-being.
Key points
A new tax credit (Indoor Air Quality Credit) is established for air quality assessments and upgrades to HVAC systems and filters.
The credit is available for commercial property, public property, and properties owned by non-profit organizations (501(c)(3)).
The credit amount varies based on the type of improvement, calculated per square foot of the affected area (e.g., up to $50 per square foot for HVAC upgrades).
Upgrades must meet high industry standards (e.g., MERV 13 filters or better) and be designed to minimize ventilation energy use to qualify for the credit.
Expired
Additional Information
Print number: 118_HR_9000
Sponsor: Rep. Beyer, Donald S. [D-VA-8]
Process start date: 2024-07-11