Explanation of the Technologies for Energy Security Act of 2017

This bill aims to amend the Internal Revenue Code of 1986 in order to extend tax credits for residential energy efficient property and energy property. The bill was introduced in the House of Representatives by Mr. Reed and several other representatives and referred to the Committee on Ways and Means.

Key Points:

Section 1: The short title of the bill is the ‘Technologies for Energy Security Act of 2017’.
Section 2: Extends the credit for residential energy efficient property until December 31, 2021 and adjusts the percentage of credit available.
Section 3: Extends the energy credit for various types of energy properties, such as solar energy, fuel cell, microturbine, combined heat and power system, small wind energy, and thermal energy properties. It also outlines a phaseout plan for certain properties, reducing the credit rate over time until 2022.

Rep. Patrick Meehan

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