S. 1526 (112th): Mechanical Insulation Installation Incentive Act of 2011

Introduced:
Sep 08, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Kirsten Gillibrand
Senator from New York
Party
Democrat
Text
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Last Updated
Sep 08, 2011
Length
6 pages
Related Bills
S. 3716 (111th) was a previous version of this bill.

Referred to Committee
Last Action: Aug 05, 2010

S. 775 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Apr 22, 2013

 
Status

This bill was introduced on September 8, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 08, 2011
Referred to Committee Sep 08, 2011
 
Full Title

A bill to amend the Internal Revenue Code of 1986 to provide a tax incentive for the installation and maintenance of mechanical insulation property.

Summary

No summaries available.

Cosponsors
4 cosponsors (2D, 2R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


9/8/2011--Introduced.
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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