The new House votes, but keep in mind that each state delegation gets one vote.
So in 2017, even if Democrats win a narrow House majority, there is a good chance that the GOP will still control a majority of state delegations.
Or that no one controls a majority of 26 delegations. Tied delegations don't vote so they effectively count as a vote against all the presidential nominees under consideration. If the Senate also splits 50-50, we may end up with no President-elect or Vice President-elect come the 20th, in which case the Speaker of the House becomes Acting President (if eligible).
I think the Vice President (Biden) gets to break a 50-50 tie in the Senate. If the House is deadlocked, the Vice President elect becomes President.