Support for HB760 - New Home Tax Credit
Owens Corning strongly supports HB 760, legislation that establishes a voluntary, first‑in‑the‑nation state tax credit for the construction and purchase of new, energy‑efficient homes. At a time when housing affordability is under increasing pressure, this bill provides a practical, market‑based tool to help builders offer high‑performance homes without pricing out working families.
HB 760 addresses a real and growing cost gap. Building to nationally recognized, voluntary energy‑efficiency standards increases construction costs, and the recent elimination of the federal 45L tax credit for builders removed a critical incentive that helped offset those expenses. This legislation helps restore that lost support at the state level, enabling builders to continue offering energy‑efficient options while keeping homes attainable for buyers.
The benefits extend directly to homeowners. Energy‑efficient homes reduce monthly utility costs from the start, helping families manage rising electricity prices and improving long‑term affordability. At the same time, the bill supports grid reliability by reducing peak energy demand and strengthens the Commonwealth’s economy by driving local investment, job creation, and tax revenue.
Importantly, HB 760 is fully voluntary and market‑driven. It does not impose new mandates or building requirements; instead, it preserves choice for builders and buyers while positioning the Commonwealth as a national leader in smart, affordable housing policy.
For these reasons, Owens Corning respectfully urges support for HB 760.
Support for HB760 - New Home Tax Credit Owens Corning strongly supports HB 760, legislation that establishes a voluntary, first‑in‑the‑nation state tax credit for the construction and purchase of new, energy‑efficient homes. At a time when housing affordability is under increasing pressure, this bill provides a practical, market‑based tool to help builders offer high‑performance homes without pricing out working families. HB 760 addresses a real and growing cost gap. Building to nationally recognized, voluntary energy‑efficiency standards increases construction costs, and the recent elimination of the federal 45L tax credit for builders removed a critical incentive that helped offset those expenses. This legislation helps restore that lost support at the state level, enabling builders to continue offering energy‑efficient options while keeping homes attainable for buyers. The benefits extend directly to homeowners. Energy‑efficient homes reduce monthly utility costs from the start, helping families manage rising electricity prices and improving long‑term affordability. At the same time, the bill supports grid reliability by reducing peak energy demand and strengthens the Commonwealth’s economy by driving local investment, job creation, and tax revenue. Importantly, HB 760 is fully voluntary and market‑driven. It does not impose new mandates or building requirements; instead, it preserves choice for builders and buyers while positioning the Commonwealth as a national leader in smart, affordable housing policy. For these reasons, Owens Corning respectfully urges support for HB 760.