To amend the Internal Revenue Code of 1986 to establish a tax credit for qualified combined heat and power system property, and for other purposes.

HR 6824 creates a 10% federal tax credit for businesses installing qualifying combined heat and power (CHP) systems. The credit applies to systems meeting strict efficiency standards (over 60% energy efficiency), producing at least 20% thermal energy and 20% electrical/mechanical power, with construction starting after December 2024. Systems over 50 megawatts electrical or 67,000 horsepower mechanical capacity are excluded, and bonuses of 10% more credit apply for domestic content or projects in designated energy communities. This credit directly affects businesses investing in new CHP infrastructure, reducing their tax liability based on the system's cost.