S.20.4.13 - Efficient Products Credit Act [DEBATE]

[Holy Unifying Centrist]

Efficient Products Credit Act
1. Southerners may receive a tax credit equal to 10% of the product cost of energy efficient windows and doors. This credit shall be applied on their regional tax return.
2. For windows and skylights, this credit may not exceed $200 in a given year.
3. For doors, this credit may not exceed $500 in a given year.
4. Southerns may receive no more than $2000 in a lifetime for all energy efficiency tax credits.
5. This act shall take effect for the 2022 fiscal year.

Sponsor: tmthforu94

Minimum of 48 hours to debate. The sponsor is invited to advocate for their bill.

[tmthforu94]

This was inspired by RL actions I'm currently taking to have this done on a couple older windows I have in my house. This is an American tax credit that has been offered for years, but it was never adopted in Atlasia. The intent is to replace older wood framed windows with new ones that are energy efficient and helps bring down energy costs and consumption. I am open to questions but urge the Chamber to support this common sense legislation.

A RL note on it: https://www.andersenwindows.com/taxcredit/

[President Punxsutawney Phil]

Great bill. I would be glad to sign it.

[Holy Unifying Centrist]

This was inspired by RL actions I'm currently taking to have this done on a couple older windows I have in my house. This is an American tax credit that has been offered for years, but it was never adopted in Atlasia. The intent is to replace older wood framed windows with new ones that are energy efficient and helps bring down energy costs and consumption. I am open to questions but urge the Chamber to support this common sense legislation.

A RL note on it: https://www.andersenwindows.com/taxcredit/

As of now, I do not support this legislation for the following reasons:

1) How is "energy efficient" defined?
2) Figuring out whether the windows/skylights credit is exceeding $200 or the door credit exceeding $500 is far too complicated to monitor
3) The lifetime tax credit is also far too complicated to monitor


I think this legislation needlessly complicates the tax code and will be too expensive to properly administer. It'll also require more work hours from the southern government to make sure people are not going over the caps, or are properly listing their product costs.  In addition, because of its complication, it will be mostly used as a way of saving rich and well educated people from paying tax dollars. Many low and middle income taxpayers simply use the standard deduction.

[tmthforu94]

1. We can get more specific on energy efficiency if that is important to you, I was trying to keep the text simple and easy to understand since this is just a game. I'll introduce an amendment below, this is the requirement currently used in Atlasia, more can be found here: https://www.energystar.gov/products/building_products/residential_windows_doors_and_skylights/key_product_criteria

2 and 3. It really isn't too complicated, there is simply an annual limit for these products, similar to many other tax credits and programs, and an error will result if someone tries to submit above that. It would result in a simple coding change to the system the government uses to process tax returns, I don't believe it to be complicated at all and wouldn't require any additional work hours. This is a program that has been implemented and used successfully in the US for year.

In terms of who this helps, I would think this would help lower and middle income families moreso than upper class - upper class families are most likely in newer homes that already have these products. It is going to be older homes (like mine) where this credit can be utilized, which are more commonly owned by middle and low income families. It promotes smart energy saving techniques and encourages homeowners to make an investment that will financially benefit them for years to come (lower energy costs).

Small amendment I'm offering:

Efficient Products Credit Act
1. Southerners may receive a tax credit equal to 10% of the product cost of energy efficient windows and doors. Doors and windows must meet the ENERGY STAR program requirements. This credit shall be applied on their regional tax return.
2. For windows and skylights, this credit may not exceed $200 in a given year.
3. For doors, this credit may not exceed $500 in a given year.
4. Southerns may receive no more than $2000 in a lifetime for all energy efficiency tax credits.
5. This act shall take effect for the 2022 fiscal year.

[President Punxsutawney Phil]

1. We can get more specific on energy efficiency if that is important to you, I was trying to keep the text simple and easy to understand since this is just a game. I'll introduce an amendment below, this is the requirement currently used in Atlasia, more can be found here: https://www.energystar.gov/products/building_products/residential_windows_doors_and_skylights/key_product_criteria

2 and 3. It really isn't too complicated, there is simply an annual limit for these products, similar to many other tax credits and programs, and an error will result if someone tries to submit above that. It would result in a simple coding change to the system the government uses to process tax returns, I don't believe it to be complicated at all and wouldn't require any additional work hours. This is a program that has been implemented and used successfully in the US for year.

In terms of who this helps, I would think this would help lower and middle income families moreso than upper class - upper class families are most likely in newer homes that already have these products. It is going to be older homes (like mine) where this credit can be utilized, which are more commonly owned by middle and low income families. It promotes smart energy saving techniques and encourages homeowners to make an investment that will financially benefit them for years to come (lower energy costs).

Small amendment I'm offering:

Efficient Products Credit Act
1. Southerners may receive a tax credit equal to 10% of the product cost of energy efficient windows and doors. Doors and windows must meet the ENERGY STAR program requirements. This credit shall be applied on their regional tax return.
2. For windows and skylights, this credit may not exceed $200 in a given year.
3. For doors, this credit may not exceed $500 in a given year.
4. Southerns may receive no more than $2000 in a lifetime for all energy efficiency tax credits.
5. This act shall take effect for the 2022 fiscal year.

Am fully in favor of this amendment.

[Holy Unifying Centrist]

If there are no objections in the next 48 hours, this amendment will be automatically adopted.

[Harvey Updyke Jr🌹]

No objection.

[Holy Unifying Centrist]

The amendment has been adopted. Motioning for a final vote.

[tmthforu94]

Following up on what DTC said, we will begin a final vote in 24 hours unless there is an objection.

[tmthforu94]

Delegates, a final vote has started on this legislation. Please vote AYE, NAY or ABSTAIN.

Efficient Products Credit Act
1. Southerners may receive a tax credit equal to 10% of the product cost of energy efficient windows and doors. Doors and windows must meet the ENERGY STAR program requirements. This credit shall be applied on their regional tax return.
2. For windows and skylights, this credit may not exceed $200 in a given year.
3. For doors, this credit may not exceed $500 in a given year.
4. Southerns may receive no more than $2000 in a lifetime for all energy efficiency tax credits.
5. This act shall take effect for the 2022 fiscal year.

Aye

[President Punxsutawney Phil]

Will be proud to sign this. This is a great bill.

[KoopaDaQuick 🇵🇸]

AYE

[reagente]

Aye

[Holy Unifying Centrist]

Nay

[tmthforu94]

With the 48 hour period elapsing, the vote has closed. This has passed and will be presented to the Governor for signature.

[President Punxsutawney Phil]

Efficient Products Credit Act
1. Southerners may receive a tax credit equal to 10% of the product cost of energy efficient windows and doors. Doors and windows must meet the ENERGY STAR program requirements. This credit shall be applied on their regional tax return.
2. For windows and skylights, this credit may not exceed $200 in a given year.
3. For doors, this credit may not exceed $500 in a given year.
4. Southerns may receive no more than $2000 in a lifetime for all energy efficiency tax credits.
5. This act shall take effect for the 2022 fiscal year.