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H.R. 539House110th Congress (2007-2009)In Committee

Buildings for the 21st Century Act

Sponsored by Allyson Y. SchwartzRep. Allyson Y. Schwartz (D-PA)
Introduced January 17, 2007

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

January 17, 2007

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HouseIntro Referral

Introduced in House

January 17, 2007

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

January 17, 2007

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Introduced in HouseIssued January 17, 2007

I

110th CONGRESS

1st Session

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

A BILL

To amend the Internal Revenue Code of 1986 to increase and extend the energy efficient commercial buildings deduction.

1.

Short title

This Act may be cited as the Buildings for the 21st Century Act.

2.

Increase and extension of energy efficient commercial buildings deduction

(a)

Increase in amount of deduction

Section 179D of the Internal Revenue Code of 1986 (relating to energy efficient commercial buildings deduction) is amended—

(1)

in subsection (b)(1)(A) by striking $1.80 and inserting $2.25, and

(2)

in subsection (d)(1)(A) by striking $.60 for $1.80 and inserting $.75 for $2.25.

(b)

Extension

Subsection (h) of section 179D of such Code (relating to termination) is amended by striking December 31, 2008 and inserting December 31, 2013.

(c)

Effective date

The amendments made by this section shall apply to property placed in service in taxable years beginning after December 31, 2006.