U.S. Congress - S.3716 Mechanical Insulation Installation Incentive Act of 2010
S.3716 - Mechanical Insulation Installation Incentive Act of 2010
A bill to amend the Internal Revenue Code of 1986 to provide a tax incentive for the installation and maintenance of mechanical insulation property. view all titles (2)
All Bill Titles
- Official: A bill to amend the Internal Revenue Code of 1986 to provide a tax incentive for the installation and maintenance of mechanical insulation property. as introduced.
- Short: Mechanical Insulation Installation Incentive Act of 2010 as introduced.
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Official Summary
8/5/2010--Introduced.Mechanical Insulation Installation Incentive Act of 2010 - 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% and the reduction in eneOfficial Summary
8/5/2010--Introduced.Mechanical Insulation Installation Incentive Act of 2010 - 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% and the reduction in energy loss from the installed mechanical insulation property compared to property which meets the minimum requirements of American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) standard 90.1-2007. Allows a deduction for 30% of the cost of replacing such property. 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.
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Recent Blog Coverage
Government Energy Incentive Legislation: Don't Forget Mechanical ...
S. 3716 сουld bе included іn broader energy tax legislation thіѕ fall – thе Clеаn Energy Jobs аnd Oil Company Accountability Act οf 2010 – whісh іѕ lіkеlу tο pass bу December. Senators аrе more lіkеlу tο include a tax incenti
Support of the Mechanical Insulation Installation Incentive Act ...
The National Insulation Association has joined 14 other construction industry organizations in thanking Senators Kirsten Gillibrand and Mike Johanns for introducing S. 3716, the Mechanical Insulation Installation Incentive Act. ...
Government Energy Incentive Legislation: Don't Forget Mechanical ...
S. 3716 could be included in broader energy tax legislation this fall – the Clean Energy Jobs and Oil Company Accountability Act of 2010 – which is likely to pass by December. Senators are more likely to include a tax incentive for ...
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