[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1937 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                S. 1937

 To amend the Internal Revenue Code of 1986 to extend the nonbusiness 
energy property credit to include the insulation component of insulated 
                                siding.


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                   IN THE SENATE OF THE UNITED STATES

                            December 1, 2011

Mr. Brown of Ohio (for himself and Ms. Snowe) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to extend the nonbusiness 
energy property credit to include the insulation component of insulated 
                                siding.

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

SECTION 1. NONBUSINESS ENERGY PROPERTY TO INCLUDE INSULATION COMPONENT 
              OF INSULATED SIDING.

    (a) In General.--Paragraph (2) of section 25C(c) of the Internal 
Revenue Code of 1986 is amended by striking ``and'' at the end of 
subparagraph (C), by striking the period at the end of subparagraph (D) 
and inserting ``, and'', and by adding at the end the following new 
subparagraph:
                    ``(E) insulation portion of any building cladding 
                system that has a minimum thermal resistance of R-2 
                (including vinyl siding) and integral insulating 
                material.''.
    (b) Dollar Limitation.--Subsection (b) of section 25C(b) of the 
Internal Revenue Code of 1986 is amended by redesignating paragraph (3) 
as paragraph (4) and by inserting after paragraph (2) the following new 
paragraph:
            ``(3) Certain insulation.--In the case of amounts paid or 
        incurred for components described in subsection (c)(2)(E) by 
        any taxpayer for any taxable year, the credit allowed under 
        this section with respect to such amounts for such year shall 
        not exceed the excess (if any) of $250 over the aggregate 
        credits allowed under this section with respect to such amounts 
        for all prior taxable years ending after December 31, 2005.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.
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