Commercial and Multifamily Energy Tax Credit Act

Summary

Commercial and Multifamily Energy Tax Credit Act - Amends the Internal Revenue Code to revise the definition of specially defined energy property, for purposes of the investment tax credit, to: (1) extend treatment as a reduction of energy consumption in a commercial process to any reduction by a commercial facility (including hotels, office buildings, or educational, health care, or retail or wholesale trade facilities) in which the property specified is installed; and (2) include specified additional equipment and devices. Extends the residential energy credit to lessors of dwelling units. Reduces the amount of the credit which is allowed to lessors who take the depreciation deduction. Increases, for purposes of such credit, the allowable energy conservation and renewable energy source expenditures. Extends through 1985 the period for which the general energy percentage, for purposes of the investment tax credit, is applicable.

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1 official file

• Introduced in Senate

  summary · EN · 3 June 1981

  Open at official source

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