Solid American Hardwood Tax Credit Act

119 HR 3322 IH: Solid American Hardwood Tax Credit Act U.S. House of Representatives 2025-05-09 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 3322 IN THE HOUSE OF REPRESENTATIVES May 9, 2025 Mr. Thompson of Pennsylvania (for himself and Ms. Sewell ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to modify the energy efficient home improvement credit to include a credit for natural carbon sinks, and for other purposes. 1. Short title This Act may be cited as the Solid American Hardwood Tax Credit Act . 2. Modification of energy efficient home improvement credit (a) Inclusion of credit for natural carbon sink expenditures (1) In general Section 25C(a) of the Internal Revenue Code of 1986 is amended by striking and at the end of paragraph (2), by striking the period at the end of paragraph (3) and inserting , and , and by adding at the end the following new paragraph: (4) the amount of the natural carbon sink expenditures paid or incurred by the taxpayer during such taxable year. . (2) Natural carbon sink expenditures Section 25C of such Code is amended by redesignating subsections (f), (g), and (h) as subsections (g), (h), and (i), respectively, and by inserting after subsection (e) the following new subsection: (f) Natural carbon sink expenditures For purposes of this section— (1) In general The term natural carbon sink expenditures means expenditures made by the taxpayer for any natural carbon sink if— (A) such natural carbon sink is installed on or in connection with a dwelling unit located in the United States and owned and used by the taxpayer as the taxpayer’s principal residence (within the meaning of section 121), (B) the original use of such natural carbon sink commences with the taxpayer, and (C) such natural carbon sink reasonably can be expected to remain in use for at least 5 years. (2) Natural carbon sink The term natural carbon sink means any flooring, paneling, millwork, cabinetry doors, cabinetry facing, window, or skylight, comprised of deciduous trees grown and processed in the United States. . (b) Extension of credit Section 25C(i)(2) of such Code, as redesignated by subsection (a)(2), is amended by striking 2032 and inserting 2035 . (c) Effective date The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.