110 HR 2305 IH: Energy Conservation through U.S. House of Representatives 2007-05-14 text/xml 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.

I 110th CONGRESS 1st Session H. R. 2305 IN THE HOUSE OF REPRESENTATIVES May 14, 2007 Mr. Nunes (for himself and Mr. Thompson of California) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to provide a five-year applicable recovery period for depreciation of qualified energy management devices.

1.

Short title

This Act may be cited as the Energy Conservation through Smart Meters Act of 2007.

2.

Five-year applicable recovery period for depreciation of qualified energy management devices

(a)

In general

Section 168(e)(3)(B) of the Internal Revenue Code of 1986 (relating to 5-year property) is amended by striking and at the end of clause (v), by striking the period at the end of clause (vi) and inserting , and, and by inserting after clause (vi) the following new clause: (vii)any qualified energy management device. . (b)

Definition of qualified energy management device

Section 168(i) of such Code (relating to definitions and special rules) is amended by inserting at the end the following new paragraph: (18)

Qualified energy management device

(A)

In general

The term qualified energy management device means any energy management device which is placed in service by a taxpayer who is a supplier of electric energy or a provider of electric energy services. (B)

Energy management device

For purposes of subparagraph (A), the term energy management device means any time-based meter and related communication equipment which is capable of being used by the taxpayer as part of a system that— (i)measures and records electricity usage data on a time-differentiated basis in at least 24 separate time segments per day, (ii)provides for the exchange of information between supplier or provider and the customer’s energy management device in support of time-based rates or other forms of demand response, and (iii)provides data to such supplier or provider so that the supplier or provider can provide energy usage information to customers electronically. . (c)

Effective date

The amendments made by this section shall apply to property placed in service in taxable years ending after the date of the enactment of this Act.