On June 26, 2009 the U.S. House of Representatives passed House Bill 2454 titled the American Clean Energy and Security Act of 2009 (also referred to as the "Climate Bill"). This bill is slated to be addressed by the Senate during the fall of 2009 and potentially enacted sometime thereafter. Although this bill has yet to be finalized and signed into law, it is expected that many of its provisions will provide much needed economic relief for many individuals. Among the many provisions introduced in this bill is a rebate for up to $7,500 for new energy-efficient manufactured homes (including mobile homes and trailers).
Mobile Home Replacement Program Qualifications
Since the primary purpose of this program is to save energy and energy expenditures, owners of manufactured homes must use the rebate to replace their older homes with a new Energy Star qualified manufactured homes. Additional criteria for the rebate include:
- The owner of the manufactured home being replaced must have used the old home as a year-round primary residence,
- The manufactured home being replaced must be dismantled and rendered unusable for human habitation, and
- The new manufactured home must be located in the same general location as the old manufactured home.
Who Qualifies for the $7,500 Mobile Home Rebate?
To be eligible for the rebate, the total income of all members of the owner’s household must not exceed 200 percent of the federal poverty level applicable to the owner’s geographical area. A family of four living in the continental United States must have income under approximately $44,100. Similarly, a family of four living in Alaska or Hawaii must have income under approximately $55,000 and $50,700, respectively.
$8,000 Tax Credit for Mobile Homes (Previously Enacted Law)
Between January 1, 2009 and December 1, 2009 there is a tax credit available to first-time homeowners (including mobile homeowners). The tax credit is equal to 10 percent of the mobile home’s purchase price up to a maximum of $8,000. New mobile homeowners wishing to take advantage of the credit must complete IRS Form 5405 to determine their tax credit amount and then claim the amount on line 67 of Form 1040, U.S. Individual Income Tax Return for 2009 (or line 69 if a new homeowner chooses to amend their 2008 return).
Note that the first-time homeowner credit is available for purchases of primary residences only. Additionally, first-time homeowner means that the buyer has not owned a principal residence during the three-year period prior to the purchase. If the buyers are married, this rule applies to both individuals. Therefore, if the buyer’s spouse has owned a principal residence in the past three years neither individual will qualify for the first-time homebuyer credit.
Mobile Home Rebate Updates
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References:
U.S. House of Representatives Bill - H.R. 2454
U.S. Department of Health & Human Services 2009 Poverty Guidelines
The information contained within this article is for general guidance only. As such, it should not be used as a substitute for consulting with professional accounting, tax, legal or other competent advisers.
Lauren Massie - “There is no knowledge that is not power” ~ Ralph Waldo Emerson
