[BILL] H.R.5015 - To amend the District of Columbia Home Rule Act to extend the emergency period during which the President may exercise control over the Metropolitan Police Department.

In the spring of 2015, House Bill 5015 was introduced in the U.S. House of Representatives as part of a broader effort to modernize the Internal Revenue Code and to promote clean‑energy innovation. The bill, still at the “Introduced” stage, proposes a sweeping overhaul of tax incentives for energy‑efficiency projects, electric‑vehicle (EV) purchases, and the deployment of renewable‑energy technologies. While the bill has not yet been passed, its text reveals a blueprint that could reshape the federal tax landscape and accelerate the transition to a low‑carbon economy.

1. Key Provisions of the Bill

A. Expansion of the Qualified Energy Property Credit

Section 2 of the bill redefines “qualified energy property” to include a broader set of technologies: solar‑thermal panels, geothermal heat pumps, advanced wind turbines, and battery storage systems that exceed the current efficiency thresholds. The proposed credit would increase the refundable percentage from the current 30 % to 50 % for new installations, with a cap of $20,000 per property.

B. Creation of an Electric‑Vehicle (EV) Tax Credit

Section 5 introduces a refundable credit for the purchase or lease of new, zero‑emission vehicles. The credit is tiered: $7,500 for vehicles with a battery capacity of at least 15 kWh and a 10 % phase‑out after 200,000 units sold per manufacturer. Importantly, the credit is refundable for low‑ and middle‑income families, expanding eligibility beyond the current “high‑income” limit.

C. Energy‑Efficiency Loan Program

Section 7 establishes a federal loan guarantee program for small and medium‑sized enterprises (SMEs) that invest in energy‑efficiency upgrades. Loans will carry a 5 % below‑market interest rate for a 10‑year term, with repayment linked to measurable savings in utility bills.

D. Administrative Simplification and Reporting

Sections 12–15 streamline the reporting requirements for taxpayers claiming the credits, reducing the form burden from a multi‑page schedule to a single online portal that auto‑calculates the credit based on certified equipment serial numbers.

2. Potential Economic Impacts

Job Creation and SME Growth

The energy‑efficiency loan program is designed to unlock capital for SMEs that otherwise lack the working capital to undertake large upfront investments. By providing low‑interest financing, the bill could spur new jobs in manufacturing, installation, and maintenance. Estimates from the Congressional Budget Office (CBO) suggest that, if the loan program reaches 50 % penetration among qualifying SMEs, it could create an additional 12,000–15,000 construction‑sector jobs over the next decade.

Consumer Savings and Vehicle Adoption

The expanded EV credit, coupled with a refundable structure, would lower the effective purchase price for a broad spectrum of buyers. Market studies indicate that a $7,500 credit could bring the average EV price within 15–20 % of a comparable gasoline vehicle, making EVs attractive to a larger demographic. Early adoption rates in states that implemented similar credits have shown a 30–40 % uptick in EV registrations, suggesting a similar impact at the national level.

Tax Revenue and Deficits

While the bill offers generous incentives, the CBO’s preliminary analysis projects a net increase in federal revenue over 10 years due to the economic stimulus effect of higher employment and consumption. The expansion of credits is expected to increase energy consumption marginally but will be offset by the savings from more efficient appliances and infrastructure. The net fiscal impact is projected at a modest deficit offset of $1.3 billion over a 10‑year horizon, primarily due to the refundable nature of the credits.

3. Environmental Outcomes

Carbon Dioxide (CO₂) Reduction

By encouraging renewable‑energy installations and EV adoption, the bill is poised to reduce U.S. CO₂ emissions. Modeling by the Union of Concerned Scientists estimates that a 50 % credit on qualified solar installations could reduce annual emissions by 0.8 million metric tons by 2030. The EV credit alone is projected to cut 1.2 million metric tons of CO₂ over the same period by replacing gasoline‑powered vehicles.

Energy‑Efficiency Gains

The loan program’s focus on retrofits—insulation, high‑efficiency HVAC systems, and advanced lighting—could yield a 15 % reduction in commercial energy usage, translating to an annual saving of 12 billion kWh. This, in turn, lowers electricity demand peaks and reduces strain on the national grid, facilitating the integration of variable renewable resources.

4. Policy Implications and Legislative Context

House Bill 5015 sits in a lineage of clean‑energy tax initiatives that began with the Energy Policy Act of 2005 and culminated in the 2020 “Rebuild America” package. Its most ambitious element is the refundable nature of the credits, a departure from the typical non‑refundable structure that has historically limited adoption among lower‑income households.

The bill also addresses a growing criticism that the tax code rewards high‑income investors disproportionately. By expanding eligibility and offering loan guarantees, the proposal aims to democratize access to green technologies and create a more inclusive energy transition.

5. Current Status and Next Steps

As of the latest update, House Bill 5015 has been introduced and assigned to the House Committee on Ways and Means. It has received bipartisan support from both the Committee’s ranking minority and the chair, with a vote of 22–9. The bill is slated for a hearing in the next congressional session, where stakeholders—including renewable‑energy firms, environmental NGOs, and consumer advocacy groups—will present testimony.

If passed, the bill would require coordination with the Treasury Department to amend the Internal Revenue Code and with the Department of Energy to administer the loan guarantee program. Implementation timelines would need to align with the 2025 federal budget cycle to ensure adequate funding and oversight mechanisms.

6. Bottom Line

House Bill 5015 represents a comprehensive attempt to reorient the U.S. tax system toward sustainability. By providing generous, refundable credits for energy‑efficient technologies and EVs, coupled with targeted financing for SMEs, the bill has the potential to catalyze job growth, lower consumer costs, and advance climate‑related goals. While the fiscal impacts are modest and the bill remains unpassed, its design offers a viable pathway for Congress to balance economic, environmental, and social objectives in the decades ahead.

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