This bill, titled the "Airborne Act of 2026," amends the Internal Revenue Code of 1986 to introduce a new tax incentive: the Indoor Air Quality Credit. This credit is designed to encourage property owners to invest in improving the air quality within their buildings. It applies to specific activities, including qualified indoor air quality assessments and upgrades to air cleaning and HVAC systems.

The credit amount is determined per square foot of affected property, with varying rates for different improvements. For instance, an assessment yields $1 per square foot, while air cleaning system upgrades and HVAC upgrades offer $5 and $50 per square foot, respectively. Significantly, these upgrade credits can be substantially increased to $25 and $250 per square foot if the installation meets specific prevailing wage and apprenticeship requirements, promoting fair labor practices.

To qualify for the credit, upgrades must be certified to comply with stringent standards from the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), specifically Standard 62.1-2022 or 241-2023. Furthermore, these systems must be designed to minimize ventilation energy use, balancing air quality improvements with energy efficiency. The credit is available for commercial property, public property, and properties owned by 501(c)(3) organizations.

There are limitations on the credit; for upgrades, it cannot exceed 50 percent of the total expenditure, while for assessments, it covers the full amount paid or incurred. The Secretary of the Treasury, in consultation with the Secretary of Energy or the EPA Administrator, is tasked with prescribing standards for assessments and certifications. Additionally, the bill mandates the establishment of a voluntary certification program for property owners to verify compliance with indoor air quality standards. These provisions are set to apply to amounts paid or incurred after December 31, 2026.