Legislative Activity

This bill introduces a new refundable tax credit, capped at $350 annually, to help individuals cover the costs of electricity and gas for their primary residence, whether paid directly or included in rent. The credit phases out for higher-income individuals and joint filers and cannot be claimed if the expenses are already deducted or if the individual is claimed as a dependent. Landlords must provide tenants with a receipt detailing the amount of rent attributable to electricity and gas service. This provision would apply to expenses incurred after the bill's enactment.

This bill proposes to amend the Internal Revenue Code of 1986, doubling the tax credit limit from $2,000 to $4,000 for energy-efficient home improvements, specifically heat pumps, heat pump water heaters, biomass stoves, and boilers. The amendment aims to further incentivize the use of energy efficient technology. This change would be effective for taxable years beginning after December 31, 2024.

The SAFE Grilling Act aims to reduce grill-related injuries and fires by establishing a public awareness campaign. This campaign, led by the Consumer Product Safety Commission, will educate the public on grilling safety practices. The act allocates $5,000,000 in funding for this initiative.

The Anti-Congestion Tax Act mandates toll exemptions for vehicles entering New York City's congestion zone via specific crossings like the Holland and Lincoln Tunnels and the George Washington Bridge, ensuring they are credited the toll amount against the congestion fee. It also introduces a federal tax credit for these congestion tolls, aiming to offset the costs for commuters. This applies to capital investment grants awarded on or after the date the congestion toll is first charged and taxable years beginning after the enactment of this Act.