Pres. Obama Signs Tax Package, MH Credit Extension Included

BREAKING NEWS: Whether you refer to it as preventing a tax increase or providing a tax cut, Pres. Obama just signed into law the bill passed by Congress entitled Tax Hike Prevention Act of 2010. Also contained within the package is a two-year extension of Energy Star tax credit for manufactured homes which expired in December of 2009. The extension allows manufacturers to claim a $1,000 federal tax credit for each Energy Star qualifying manufactured home built in 2010 and 2011. A $2,000 credit is available to all homes (site built, modular and manufactured) that exceed by 50 percent the requirements of the International Energy Conservation Code. “MHI applauds recent Congressional action to extend the tax credit for building energy efficient manufactured and modular homes through 2011,” MHI Executive Vice President Thayer Long told “The credit will allow the nation’s manufactured home builders to continue providing cutting-edge energy efficient homes to thousands of families at affordable prices.” In 2010, the Manufactured Housing Institute (MHI) estimates this tax credit is worth $3.5 million to manufacturers and our customers. In 2011, MHI conservatively estimates this credit will be worth between $5.0-$7.0 million.

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