II 110th CONGRESS 1st Session S. 1207 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.

1.

Short title

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

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.