A bill to amend the Internal Revenue Code of 1954 to provide a tax credit to homebuilders for the construction of residences incorporating certain solar energy utilization characteristics.

Amends the Internal Revenue Code to provide homebuilders with an income tax credit for the construction of residences which incorporate a passive solar energy system. Directs the Secretary of the Treasury, after consultation with the Secretaries of Energy and Housing and Urban Development, to prescribe regulations setting forth a solar construction credit table for purposes of determining the amount of the credit for which the incorporator of the solar energy system is eligible. Limits the dollar amount of such credit to $2,500. Phases out such credit in annual increments after 1988.

Defines "passive solar energy system" as a system which contains a solar collection area, an absorber, a storage mass, a heat distribution method, and heat regulation devices. Requires such system to be installed in a new residence after September 30, 1983 and before January 1, 1992.