Bill Detail
An Act to amend the Income Tax Act (heat recovery tax credit)
This enactment amends the Income Tax Act to provide a tax credit to certain businesses that acquire qualifying heat recovery equipment to recover heat produced by industrial processes and convert it in order to generate energy.
Bill C-269 proposes to amend the Income Tax Act to introduce a new tax credit for businesses. This credit would apply to businesses that purchase specific equipment designed to capture waste heat from industrial processes and convert it into usable energy.
The goal is to incentivize investment in energy efficiency and sustainability within the industrial sector. By offering a financial incentive, the bill aims to encourage companies to adopt technologies that reduce energy waste and potentially lower their carbon footprint, benefiting both the businesses and the environment.