[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1207 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 1207

 To amend the Internal Revenue Code of 1986 to increase and extend the 
            energy efficient commercial buildings deduction.


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                   IN THE SENATE OF THE UNITED STATES

                             April 25, 2007

 Ms. Landrieu introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase and extend the 
            energy efficient commercial buildings deduction.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Giving Reductions to Energy 
Efficient New Buildings Act'' or the ``GREEN Buildings Act''.

SEC. 2. INCREASE AND EXTENSION OF ENERGY EFFICIENT COMMERCIAL BUILDINGS 
              DEDUCTION.

    (a) Increase in Amount of Deduction.--Section 179D of the Internal 
Revenue Code of 1986 (relating to energy efficient commercial buildings 
deduction) is amended--
            (1) in subsection (b)(1)(A) by striking ``$1.80'' and 
        inserting ``$2.25'', and
            (2) in subsection (d)(1)(A) by striking ``$.60 for $1.80'' 
        and inserting ``$.75 for $2.25''.
    (b) Extension.--Section 179D(h) of the Internal Revenue Code of 
1986 (relating to termination) is amended by striking ``December 31, 
2008'' and inserting ``December 31, 2013''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service in taxable years beginning after 
December 31, 2006.
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