H.R.2866 - Mechanical Insulation Installation Incentive Act of 2011

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: 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 2011 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
09/08/11
 
 
 
 
 
 
 

Sponsor

Representative

Donald Manzullo

R-IL

View Co-Sponsors (77)

Official Summary

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 insta

Official Summary

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.

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