Senate and House differ on energy-efficiency

Journal of Property Management, Nov-Dec, 2007

This past summer, the U.S. Senate and House each passed energy bills that vary greatly. The Senate's comprehensive energy legislation, passed on June 21, promotes a major expansion of renewable fuels and energy efficiency; the bill does not extend the energy-efficiency tax deduction for commercial buildings that IREM supports.

Conversely, the House bill extends the tax deduction for energy-efficient commercial building expenditures through 2013. The Renewable Energy and Energy Conservation Tax Act of 2007 (H.R. 2776) amends the Internal Revenue Code provisions relating to renewable energy sources and energy conservation. H.R. 2776 passed the House by a vote of 221 to 189 on August 4.

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