Superbonus decree, ok to trust in the Senate: the text on credits for construction works is law

The decree concerning Superbonus and tax credits is heading towards final approval in the Senate, where the government has raised the question of trust.

Armored text, the one already passed by the Chamber where the executive had also placed its trust. Consequently, a rapid passage is foreseen at Palazzo Madama: the conference of group leaders has established that the explanations of vote will take place immediately and to follow the vote. The provision must be converted into law by 17 April.

The core of the provision is the de facto stop to the possibility of exploiting the discount on the invoice by transferring the credit accrued with the building works, taken on February 17th. Therefore, only the direct deduction of the tax discount remains alive. But after the passage in the finance commission, a series of derogations and extensions entered, above all to secure the credits acquired before 17 February last and the cases concerning disadvantaged areas and social categories.

Among the approved changes, substantially shared between the majority and the oppositions, the expected extension to 30 September 2023 of the 110% superbonus for the expenses incurred for single-family housing units (villas) stands out with a progress of the works equal to 30% as of last September year, and the release of credits accrued in 2022 at risk of forfeiture due to the impossibility of sending the related communications to the revenue agency by the end of March. In this case it will be possible to carry out the communication even in the absence of the conclusion of the relative transfer agreement with the bank. According to what was clarified by a ‘press release’ from the Ministry of the Economy, the ‘remission in bonis’ will allow one to regularize one’s position by 30 November with the payment of a fine of 250 euros.

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Green light also to the extension of the assignment of credits for ex Iacp buildings, onlus, works with ‘sismabonus’, while the cases of exclusion from the competition in violation for irregular assignments of credits are extended thanks to the integration of the documentation requested from the assignor.

On the other hand, the hypothesis of resorting to the F24 models for the assignment of credits appears definitively over (due to cash problems, the undersecretary for the economy Federico Freni clarified during the examination in the commission), while it will be granted to banks and insurance companies with the ‘full’ tax drawers the possibility of using 2022 credits deriving from building bonuses to buy BTPs of ordinary issue with at least a ten-year maturity. Furthermore, tax credits can also be offset against social security debts (and both financial and private intermediaries will be able to deduct credits in 10 years instead of four), it is detailed with an interpretative clarification.

As for problem loans, the solution did not come from amendments to the legislative decree but, it was announced, from a platform made up of financial institutions, in which a company like Enel X is a candidate to play a pivotal role.

Therefore, the list of interventions admitted to a discount on the invoice with credit assignment includes the works carried out on the basis of ‘variations’ to the initial projects decided after 16 February, and those of the so-called ‘free construction’ (such as boilers or fixtures) whose work had not yet begun before the enactment of the legislative decree. In these cases, the bonuses can be accessed if a binding agreement has already been stipulated between the parties for the supply of goods and services. Urban regeneration works or works aimed at removing architectural barriers and those carried out in areas damaged by the earthquakes that have occurred since 2009 will also continue to be able to access the superbonus mechanism.