A coalition of industry groups including NAREIT is urging Congress to extend and refine an expired tax deduction for energy efficient buildings.
The organizations wrote to the leadership of both houses of Congress and the House Ways and Means and Senate Finance Committees on Dec. 1, calling for a multi-year extension of Section 179D. The measure, which expired at the end of 2014, provides a tax deduction to help offset some of the high costs of energy efficient components and systems for commercial and larger multifamily buildings.
The broadly based coalition also called on Congress to adopt 179D-related provisions in the Tax Relief Extension Act of 2015 (S. 1946) and in Title I of the Energy Efficiency Tax Incentives Act (S. 2189) filed during the last Congress.
(Contact: Dara Bernstein at dbernstein@nareit.com)