H. R. 539
IN THE HOUSE OF REPRESENTATIVES
January 17, 2007
Ms. Schwartz (for herself and Mr. Baird) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to increase and extend the energy efficient commercial buildings deduction.
This Act may be cited as the
Buildings for the 21st Century Act.
Increase and extension of energy efficient commercial buildings deduction
Increase in amount of deduction
Section 179D of the Internal Revenue Code of 1986 (relating to energy efficient commercial buildings deduction) is amended—
in subsection (b)(1)(A) by striking
$1.80 and inserting
in subsection (d)(1)(A) by striking
$.60 for $1.80 and inserting
$.75 for $2.25.
Subsection (h) of section 179D of such Code (relating to termination) is amended by striking
December 31, 2008 and inserting
December 31, 2013.
The amendments made by this section shall apply to property placed in service in taxable years beginning after December 31, 2006.