GovTrack’s Bill Summary
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Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Mechanical Insulation Installation Incentive Act of 2011 - Amends the Internal Revenue Code to allow an additional tax deduction for the cost of installing mechanical insulation property.
Limits the amount of such deduction to the lesser of 30% or the reduction in energy loss from the installed mechanical insulation property compared to property that meets the minimum requirements of American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) standard 90.1-2007.
Allows the cost of replacing mechanical insulation property to be treated as a deductible business expense in the current taxable year.
Defines "mechanical insulation property" as insulation materials, facings, and accessory products:
(1) placed in service in connection with a mechanical system which is located in the United States and of a character subject to an allowance for depreciation; and
(2) utilized for thermal, acoustical, and personnel safety requirements for mechanical piping and equipment, hot and cold applications, and heating, venting and air conditioning applications which can be used in a variety of facilities.
Allows a tax deduction for capital expenditures related to mechanical insulation property.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
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So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.