S.3591 - Commercial Building Modernization Act

A bill to amend the Internal Revenue Code of 1986 to improve and extend the deduction for new and existing energy-efficient commercial buildings, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to improve and extend the deduction for new and existing energy-efficient commercial buildings, and for other purposes. as introduced.
  • Short: Commercial Building Modernization Act as introduced.

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Introduced
 
Senate
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House
Passes
 
President
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09/20/12
 
 
 
 
 
 
 

Official Summary

Commercial Building Modernization Act- Amends the Internal Revenue Code, with respect to the tax deduction for energy-efficient commercial buildings, to: (1) extend such deduction through 2016; (2) include within the definition of \"property\" for purposes of such deduction a commercial bui

Official Summary

Commercial Building Modernization Act- Amends the Internal Revenue Code, with respect to the tax deduction for energy-efficient commercial buildings, to:
(1) extend such deduction through 2016;
(2) include within the definition of \"property\" for purposes of such deduction a commercial building and a multifamily building (a structure of five or more dwelling units used as residential housing);
(3) increase the maximum amount of such deduction; and
(4) adopt the updated standard of the American Society of Heating, Refrigerating, and Air Conditioning Engineers and the Illuminating Engineering Society of North America applicable to property eligible for such deduction. Allows through 2016 a new tax deduction for the cost of retrofitting existing commercial and multifamily buildings.

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