Legislative Activity

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 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.