Tax Credits Proposed for Efficient Buildings
BOSTON — A bill to give tax credits to public, private and commercial buildings that comply with energy-efficient standards is under consideration in the Massachusetts Legislature.
The legislation would require the state to adopt the International Energy Conservation Code for new construction and renovation projects. It sets heating standards and minimum energy provisions for residential and commercial buildings. Officials estimate that the standards would increase construction costs by 3 percent, but builders would see savings in energy costs and tax breaks.
A tax credit incentive for 5 percent of the total construction or renovation cost is available to private developers or home buyers if the buildings exceed IECC efficiency by 30 percent. The same credits are available to developers of historic restoration projects.
Supporters hope the bill will enable the state to be more energy efficient, attract businesses to buildings that are green-oriented and will stimulate economic growth.
A construction guide for new and rehabilitated projects by an advisory committee reporting to the Division of Capital Asset Management will recommend building strategies, materials and technologies for reducing energy consumption and cost.