Mechanical Insulation Installation Incentive Act of 2015

Summary

Mechanical Insulation Installation Incentive Act of 2015 This bill amends the Internal Revenue Code to allow an additional tax deduction for the cost of installing mechanical insulation property. The bill: (1) 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; and (2) allows the cost of replacing mechanical insulation property to be treated as a deductible business expense in the current taxable year. The bill 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 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. The bill also allows a tax deduction for capital expenditures related to mechanical insulation property.

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Timeline

1. 3 December 2015

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 December 2015

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 December 2015

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 December 2015 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 December 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 December 2015

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 3 December 2015

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Dold, Robert J. [R-IL-10] · R · Sponsor
• Rep. Sánchez, Linda T. [D-CA-38] · D · Sponsor
• Sen. Duckworth, Tammy [D-IL] · D · Cosponsor
• Rep. Hanna, Richard L. [R-NY-22] · R · Cosponsor
• Rep. Lipinski, Daniel [D-IL-3] · D · Cosponsor
• Rep. Walz, Timothy J. [D-MN-1] · D · Cosponsor
• Rep. DelBene, Suzan K. [D-WA-1] · D · Cosponsor
• Rep. Jeffries, Hakeem S. [D-NY-8] · D · Cosponsor
• Rep. Beatty, Joyce [D-OH-3] · D · Cosponsor
• Rep. Garamendi, John [D-CA-8] · D · Cosponsor
• Rep. Richmond, Cedric L. [D-LA-2] · D · Cosponsor
• Rep. Nolan, Richard M. [D-MN-8] · D · Cosponsor
• Rep. Foster, Bill [D-IL-11] · D · Cosponsor
• · hswm00 · Standing

Related records

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