[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2388 Introduced in Senate (IS)]
113th CONGRESS
2d Session
S. 2388
To amend the Internal Revenue Code of 1986 to modify the depreciation
recovery period for energy-efficient cool roof systems, and for other
purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 22, 2014
Mr. Cardin (for himself, Mr. Crapo, and Mr. Heller) 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 modify the depreciation
recovery period for energy-efficient cool roof systems, and for other
purposes.
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 ``Energy-Efficient Cool Roof Jobs
Act''.
SEC. 2. DEPRECIATION RECOVERY PERIOD FOR CERTAIN ROOF SYSTEMS.
(a) 20-Year Recovery Period.--
(1) In general.--Subparagraph (F) of section 168(e)(3) of
the Internal Revenue Code of 1986 is amended to read as
follows:
``(F) 20-year property.--The term `20-year
property' means--
``(i) initial clearing and grading land
improvements with respect to any electric
utility transmission and distribution plant,
and
``(ii) any qualified energy-efficient cool
roof replacement property.''.
(2) Qualified energy-efficient cool roof replacement
property.--Section 168(e) of such Code is amended by adding at
the end the following new paragraph:
``(9) Qualified energy-efficient cool roof replacement
property.--
``(A) In general.--The term `qualified energy-
efficient cool roof replacement property' means any
roof system--
``(i) which is placed in service above
conditioned or semi-heated space on an eligible
commercial building,
``(ii) which has a slope equal to or less
than 2:12,
``(iii) which replaces an existing roof
system, and
``(iv) which includes--
``(I) insulation which meets or
exceeds the minimum prescriptive
requirements in tables A-1 to A-9 in
the Normative Appendix A of ASHRAE
Standard 189.1-2011, and
``(II) in the case of an eligible
commercial building located in a
climate zone other than climate zone 6,
7, or 8 (as specified in ASHRAE
Standard 189.1-2011), a primary roof
covering which has a cool roof surface.
``(B) Cool roof surface.--The term `cool roof
surface' means a roof the exterior surface of which--
``(i) has a 3-year-aged solar reflectance
of at least 0.55 and a 3-year-aged thermal
emittance of at least 0.75, as determined in
accordance with the Cool Roof Rating Council
CRRC-1 Product Rating Program, or
``(ii) has a 3-year-aged solar reflectance
index (SRI) of at least 64, as determined in
accordance with ASTM Standard E1980,
determined--
``(I) using a medium-wind-speed
convection coefficient of 12 W/
m<SUP>2</SUP>.K, and
``(II) using the values for 3-year-
aged solar reflectance and 3-year-aged
thermal emittance determined in
accordance with the Cool Roof Rating
Council CRRC-1 Product Rating Program.
``(C) Roof system.--The term `roof system' means a
system of roof components, including roof insulation
and a membrane or primary roof covering, but not
including the roof deck, designed to weather-proof and
improve the thermal resistance of a building.
``(D) Eligible commercial building.--The term
`eligible commercial building' means any building--
``(i) which is within the scope of ASHRAE
Standard 90.1-2010,
``(ii) which is located in the United
States,
``(iii) with respect to which depreciation
(or amortization in lieu of depreciation) is
allowable, and
``(iv) which was placed in service before
the date that is 3 years prior to the date the
roof system described in subparagraph (A) is
placed in service.
``(E) ASHRAE.--The term `ASHRAE' means the American
Society of Heating, Refrigerating and Air-Conditioning
Engineers.''.
(b) Requirement To Use Straight Line Method.--Paragraph (3) of
section 168(b) of the Internal Revenue Code of 1986 is amended by
adding at the end the following new subparagraph:
``(J) Any qualified energy-efficient cool roof
replacement property.''.
(c) Alternative System.--The table contained in section
168(g)(3)(B) of the Internal Revenue Code of 1986 is amended by
striking the last item and inserting the following new items:
``(F)(i)........................................... 25
(F)(ii)........................................... 27.5''.
(d) Depreciation Rules for Certain Qualified Energy-Efficient Cool
Roof Replacement Property for Purposes of Computing the Earnings and
Profits of a Real Estate Investment Trust.--
(1) In general.--Paragraph (3) of section 312(k) of the
Internal Revenue Code of 1986 is amended by adding at the end
the following new subparagraph:
``(C) Treatment of qualified energy-efficient cool
roof replacement property.--In the case of any
qualified energy-efficient cool roof replacement
property (within the meaning of section 168(e)(9)), the
adjustment for depreciation to earnings and profits of
a real estate investment trust for any taxable year
shall be determined under the alternative depreciation
method (within the meaning of section 168(g)(2)),
except that the recovery period shall be 20 years.''.
(2) Conforming amendment.--Subparagraph (A) of section
312(k)(3) of such Code is amended by striking ``subparagraph
(B),'' and inserting ``subparagraphs (B) and (C),''.
(e) 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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