II
110th CONGRESS
1st Session
S. 1207
IN THE SENATE OF THE UNITED STATES
April 25, 2007
Ms. Landrieu introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to increase and extend the energy efficient commercial buildings deduction.
Short title
This Act may be cited as the
Giving Reductions to Energy Efficient
New Buildings Act
or the GREEN Buildings Act
.
Increase and extension of energy efficient commercial buildings deduction
Increase in amount of deduction
Section 179D of the Internal Revenue Code of 1986 (relating to energy efficient commercial buildings deduction) is amended—
in subsection
(b)(1)(A) by striking $1.80
and inserting $2.25
,
and
in subsection
(d)(1)(A) by striking $.60 for $1.80
and inserting $.75
for $2.25
.
Extension
Section
179D(h) of the Internal Revenue Code of 1986 (relating to termination) is
amended by striking December 31, 2008
and inserting
December 31, 2013
.
Effective date
The amendments made by this section shall apply to property placed in service in taxable years beginning after December 31, 2006.