US Congress Senate Bill 2388 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on May 22 2014 - 25% progression, died in committee
Action: 2014-05-22 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Energy-Efficient Cool Roof Jobs Act - Amends the Internal Revenue Code to classify any qualified energy-efficient cool roof replacement property as 20-year property for depreciation purposes. Defines "qualified energy-efficient cool roof replacement property" as any roof system that: (1) is placed in service above conditioned or semiheated space on an eligible commercial building, (2) has a slope equal to or less than 2:12 (low-slope roof), (3) replaces an existing roof system, and (4) includes insulation meeting specified standards and a primary roof covering that has a cool roof surface. Requires the adjustment for depreciation to the earnings and profits of a real estate investment trust for any taxable year, in the case of such property, to be determined under the alternative depreciation method, except that the recovery period shall be 20 years.

Energy-Efficient Cool Roof Jobs Act

Sen. Benjamin Cardin [D-MD]	Sen. Susan Collins [R-ME]	Sen. Mike Crapo [R-ID]	Sen. Dean Heller [R-NV]
Sen. Amy Klobuchar [D-MN]

Date	Chamber	Action
2014-05-22	Senate	Read twice and referred to the Committee on Finance.

HB4740 (Related) 2014-05-22 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/2388/all-info
Text	https://www.congress.gov/113/bills/s2388/BILLS-113s2388is.pdf