II 112th CONGRESS 1st Session S. 1937 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 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.

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.