sold or used after December 31, 2017. III Energy Efficiency Incentives 301. Credit for new energy efficient residential buildings (a) In general Section 45L is amended to read as follows: 45L. New energy efficient home credit (a) Allowance of credit For purposes of section 38, in the case of an eligible contractor, the new energy efficient home credit for the taxable year is the applicable amount for each qualified residence which is— (1) constructed by the eligible contractor, and (2) acquired by a person from such eligible contractor for use as a residence during the taxable year. (b) Applicable amount (1) In general For purposes of subsection (a), the applicable amount shall be an amount equal to $1,500 increased (but not above $3,000) by $100 for every 5 percentage points by which the efficiency ratio for the qualified residence is certified to be greater than 25 percent. (2) Efficiency ratio For purposes of this section, the efficiency ratio of a qualified residence shall be equal to the quotient, expressed as a percentage, obtained by dividing— (A) an amount equal to the difference between— (i) the annual level of energy consumption of the qualified residence, and (ii) the annual level of energy consumption of the baseline residence, by (B) the annual level of energy consumption of the baseline residence. (3) Baseline residence For purposes of this section, the baseline residence shall be a residence which is— (A) comparable to the qualified residence, and (B) constructed in accordance with the standards of the 2015 International Energy Conservation Code, as such Code (including supplements) is in effect on the date of the enactment of the Clean Energy for America Act . (c) Definitions For purposes of this section: (1) Eligible contractor The term eligible contractor means— (A) the person who constructed the qualified residence, or (B) in the case of a qualified residence which is a manufactured home, the manufactured home producer of such residence. (2) Qualified residence The term qualified residence