New Law Extends Tax Incentives for Energy Star Homes
The popular ENERGY STAR zero sales tax incentive will remain in effect until at least July 1, 2024 thanks to a new law passed on May 12, 2020.
The bill is currently on Governor McMaster’s desk to be signed.
Because of this incentive, homebuyers purchasing a manufactured home that meets ENERGY STAR standards will pay no sales tax on the home.
Not only does this law make our products more affordable, but it helps to solidify our place as sustainable, affordable, energy efficient housing.
The General Assembly closed for most of April and all of March due to COVID-19, halting all legislation. Any legislation not passed by the end of the session would have to be re-in 2021, resetting the whole process.
The association was preparing our back up plan under the assumption the bill would not be looked at again due to the shortened session caused by the virus, but the bill’s passing was a pleasant surprise.
The General Assembly returned to Columbia on May 12 for a one-day marathon session focused on passing the most vital legislation left on the table.
Supporters of the manufactured housing industry fought hard to make sure that the ENERGY STAR bill was among these.
The bill received broad bipartisan support at a time when working-class homebuyers need all the breaks they can get.