Energy Efficiency Tax Incentives Act

Summary

Energy Efficiency Tax Incentives Act - Amends the Internal Revenue Code to: (1) extend through 2016, and increase the maximum rate of, the tax deduction for energy-efficient commercial building expenditures; (2) allow a new tax deduction for the cost of retrofitting existing commercial and multifamily buildings; (3) allow a new tax credit, through 2016, for home energy efficiency improvements that increase energy efficiency by at least 20%; (4) extend through 2018 the tax credit for combined heat and power system property expenditures and increase the capacity limitations and credit percentages for systems with a higher efficiency rating; (5) allow an energy tax credit for investment in biomass heating property and for waste heat to power property (i.e., a system which generates electricity through the recovery of a qualified waste heat resource and is placed in service before January 1, 2019); (6) allow a new business-related tax credit for efficient advanced motor systems with adjustable speed capability; (7) allow a new business-related tax credit for replacement of large water-cooled refrigerant chillers that use environmentally harmful refrigerants; and (8) allow a new tax credit for expenditures to increase water use efficiency in the manufacturing sector.

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Timeline

1. 1 April 2014

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1925-1933)

   Source: IntroReferral

2. 1 April 2014

   Introduced

   Sponsor introductory remarks on measure. (CR S1925)

   Source: IntroReferral

3. 1 April 2014

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 7 May 2014

   Committee

   Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held. With printed Hearing: S.Hrg. 113-466.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 April 2014 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 April 2014

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 April 2014

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 April 2014

  Open at official source

Sponsors

• Rep. Cardin, Benjamin L. [D-MD-3] · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Brian Schatz · D · Sponsor
• · ssbk00 · Standing
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.