Ways and Means
Co-Sponsors: 5 – 4 Democrats, 1 Republican
The bill addresses energy efficient commercial buildings by amending the Internal Revenue Code to make the deduction for these buildings permanent. It also allows 501(c)(3) tax-exempt organizations and Indian tribal governments to allocate the deduction to a person primarily responsible for designing the property rather than the owner of the property. The bill ensures that partnerships and S corporations can receive the full benefit of a deduction allocated at the partner or shareholder level and properties placed in service in a qualified low-income building will be exempt from the requirement to reduce the basis of the property by the amount of the deduction.
(Summary from Congressional Research Service Bill Summary)
This bill addresses Green Real Deal goal 2(K)p.6 to make buildings more energy efficient.