America's First Fuels Act

This bill raises the tax credit for homeowners who install a biomass stove or biomass boiler in their main home from a maximum of $2,000 per year to $10,000 per year. It also creates a new tax credit for businesses that invest in equipment using open-loop biomass to produce heat, hot water, hot air, or steam, covering 30% of the cost. The business tax credit is reduced if the property is paid for using tax-exempt bonds, and businesses can start claiming the credit early if the equipment takes two or more years to build.

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