Manufacturing Industry

IRS issues tax incentives.(News)

Roofing Siding Insulation, September, 2006

Final regulations for tax incentives for improvements to new and existing commercial buildings, including HVAC, water heating, interior lighting and the building envelope, have been issued.

Commercial building owners who make building envelope improvements, including thermal insulation, may qualify for a deduction of up to 60 cents per square foot of building floor area if the improvements reduce energy costs by at least 16.66 percent as compared to a reference building that meets the minimum requirements of ASHRAE Standard 90.1-2001. Qualified software must be used to calculate energy costs, and a field inspection by a qualified individual must be performed.

The energy bill tax deduction is permitted on property placed in service before Jan. 1, 2008....

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