HB965:

Income tax, state; deductions for Energy Star certified water heater.

Bill Summary:

Virginia taxable income; deductions; Energy
Star certified water heater. Provides a deduction for the purchase
of any water heater for residential use that is Energy Star certified
equal to the lesser of 20 percent of the actual price paid or $500,
beginning in taxable year 2022. The bill limits to taxable years
beginning before January 1, 2022, the current provisions allowing
individuals to deduct from their taxable personal income an amount
equal to 20 percent of the sales taxes paid, up to $500, for an electric
heat pump hot water heater that yields an energy factor of at least
1.7 and an advanced gas or oil water heater that has an energy factor
of at least 0.65.