§ 45L. New energy efficient home credit
(a)
Allowance of credit
(1)
In general
For purposes of section
38, in the case of an eligible contractor, the new energy efficient home credit for the taxable year is the applicable amount for each qualified new energy efficient home which is—
(b)
Definitions
For purposes of this section—
(c)
Energy saving requirements
A dwelling unit meets the energy saving requirements of this subsection if such unit is—
(1)
certified—
(A)
to have a level of annual heating and cooling energy consumption which is at least 50 percent below the annual level of heating and cooling energy consumption of a comparable dwelling unit—
(2)
a manufactured home which conforms to Federal Manufactured Home Construction and Safety Standards (part 3280 of title
24, Code of Federal Regulations) and which meets the requirements of paragraph (1), or
(3)
a manufactured home which conforms to Federal Manufactured Home Construction and Safety Standards (part 3280 of title
24, Code of Federal Regulations) and which—
(d)
Certification
(1)
Method of certification
A certification described in subsection (c) shall be made in accordance with guidance prescribed by the Secretary, after consultation with the Secretary of Energy. Such guidance shall specify procedures and methods for calculating energy and cost savings.
(2)
Form
Any certification described in subsection (c) shall be made in writing in a manner which specifies in readily verifiable fashion the energy efficient building envelope components and energy efficient heating or cooling equipment installed and their respective rated energy efficiency performance.
(e)
Basis adjustment
For purposes of this subtitle, if a credit is allowed under this section in connection with any expenditure for any property, the increase in the basis of such property which would (but for this subsection) result from such expenditure shall be reduced by the amount of the credit so determined.
(g)
Termination
This section shall not apply to any qualified new energy efficient home acquired after December 31, 2011.