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Increased Tax Credit Limit for Biomass Stoves and Boilers.

This bill significantly raises the maximum tax credit available to citizens for installing energy-efficient biomass stoves and boilers in their homes. The change aims to incentivize homeowners to upgrade their heating systems, potentially lowering energy bills and promoting greener solutions. The new, higher credit limits apply to equipment placed in service after December 31, 2022.
Key points
The maximum tax credit for purchasing and installing biomass stoves and boilers is increased to $8,000.
This change applies to equipment put into service after December 31, 2022, allowing for greater savings on home upgrades.
It also sets a $2,000 limit for other specified energy efficiency home improvements.
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Additional Information
A bill to amend the Internal Revenue Code of 1986 to increase the limitation on the credit for biomass stoves and boilers.
Print number: S 54
Sponsor: Sen. King, Angus S., Jr. [I-ME]
Process start date: 2023-01-24