113 S2388 IS: Energy-Efficient Cool Roof Jobs Act
U.S. Senate
2014-05-22
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EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.This Act may be cited as the Energy-Efficient Cool Roof Jobs Act
.
2.
Depreciation recovery
period for certain roof systems
(a)
(1)
Subparagraph (F) of section 168(e)(3) of the Internal Revenue Code of 1986 is
amended to read as follows:
(F)
The term 20-year property means—
(i)
initial clearing
and grading land improvements with respect to any electric utility
transmission
and distribution plant, and
(ii)
any qualified
energy-efficient cool roof replacement
property.
.
(2)
Qualified
energy-efficient cool roof replacement property
Section 168(e) of such Code is amended by adding at the end the following new paragraph:
(9)
Qualified
energy-efficient cool roof replacement property
(A)
The term qualified energy-efficient cool roof
replacement property means any roof system—
(i)
which is placed
in service above conditioned
or semi-heated space on an eligible commercial building,
(ii)
which has a
slope equal to or less than 2:12,
(iii)
which replaces
an existing roof system, and
(iv)
which
includes—
(I)
insulation which
meets or exceeds the minimum prescriptive requirements in tables
A–1 to A–9 in
the Normative Appendix A of ASHRAE Standard 189.1–2011, and
(II)
in the case of
an eligible commercial building located in a climate zone other
than climate
zone 6, 7, or 8 (as specified in ASHRAE Standard 189.1–2011), a
primary roof
covering which has a cool roof surface.
(B)
The term cool roof surface means a roof the
exterior surface of which—
(i)
has a 3-year-aged
solar reflectance of at least 0.55 and a 3-year-aged thermal
emittance of at
least 0.75, as determined in accordance with the Cool Roof Rating
Council
CRRC–1 Product Rating Program, or
(ii)
has a
3-year-aged solar reflectance index (SRI) of at least 64, as
determined in
accordance with ASTM Standard E1980, determined—
(I)
using a
medium-wind-speed convection coefficient of 12 W/m2·K, and
(II)
using the values
for 3-year-aged solar reflectance and 3-year-aged thermal emittance
determined
in accordance with the Cool Roof Rating Council CRRC–1 Product
Rating
Program.
(C)
The term roof system means a system of roof
components, including roof insulation and a membrane or primary
roof covering,
but not including the roof deck, designed to weather-proof and
improve the
thermal resistance of a building.
(D)
Eligible
commercial building
The term eligible commercial
building means any building—
(i)
which is within
the scope of ASHRAE Standard 90.1–2010,
(ii)
which is located
in the United States,
(iii)
with respect to
which depreciation (or amortization in lieu of depreciation) is
allowable,
and
(iv)
which was placed
in service before the date that is 3 years prior to the date the
roof system described in subparagraph (A) is placed in service.
(E)
The
term ASHRAE means the American Society of Heating, Refrigerating
and Air-Conditioning
Engineers.
.
(b)
Requirement To
use straight line method
Paragraph (3) of section 168(b) of the Internal Revenue Code of 1986 is amended by adding at the
end the following new subparagraph:
(J)
Any qualified
energy-efficient cool roof replacement
property.
.
(c)
The table contained in section 168(g)(3)(B) of the Internal Revenue Code of 1986 is amended by
striking the last item and inserting the
following new
items:
.
(d)
Depreciation
rules for certain qualified energy-Efficient cool roof replacement property for
purposes of computing the earnings and profits of a real estate investment
trust
(1)
Paragraph (3) of section 312(k) of the Internal Revenue Code of 1986 is amended by adding at the
end the following new
subparagraph:
(C)
Treatment of
qualified energy-efficient cool roof replacement property
In the
case of any qualified energy-efficient cool roof replacement property (within
the meaning of section 168(e)(9)), the adjustment for depreciation to earnings
and profits of a real estate investment trust for any taxable year shall be
determined under the alternative depreciation method (within the meaning of
section 168(g)(2)), except that the recovery period shall be 20
years.
.
(2)
Subparagraph (A) of section 312(k)(3) of such Code is
amended by striking subparagraph (B),
and inserting
subparagraphs (B) and (C),
.
(e)
The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.