TaxAlmanac:Featured article/August 11, 2005

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Energy Policy Act of 2005 & Transportation Act of 2005

Summary

On July 29, 2005, Congress passed the Energy Policy Act of 2005 (H.R. 6) and the Safe, Accountable, Flexible, and Efficient Transportation Equity Act of 2005 (H.R. 3). President Bush signed the first act into law on August 8, 2005 and the second act into law on August 10, 2005.

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TaxAlmanac

These two tax acts have now been incorporated into the Internal Revenue Code residing on the TaxAlmanac website. TaxAlmanac is the only known free website to feature a complete, updated tax code.

Highlights of the Energy Policy Act of 2005

  • Offers consumers tax credits for making energy efficiency improvements in their homes
  • Tax credits are available for highly efficient central air conditioners, heat pumps, and water heaters, as well as to upgrade thermostats, install exterior windows, and stop energy waste


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