House Bill 1566
Introduced House Bill (H)
DIGEST
Tax deduction for mechanical insulation property. Provides an income tax deduction for depreciable costs incurred by a taxpayer to install mechanical insulation property. Defines "mechanical insulation property" as insulation materials used for thermal, acoustical, and personal safety requirements for mechanical piping and equipment, hot and cold applications, and heating, venting, and air conditioning applications. Provides that the amount of the deduction is the lesser of: (1) 30%; or (2) the percentage of excess energy savings from the installed mechanical insulation property when compared to the minimum energy savings requirements for buildings as published by the American Society of Heating, Refrigerating
Tax deduction for mechanical insulation property. Provides an income tax deduction for depreciable costs incurred by a taxpayer to install mechanical insulation property. Defines "mechanical insulation property" as insulation materials used for thermal, acoustical, and personal safety requirements for mechanical piping and equipment, hot and cold applications, and heating, venting, and air conditioning applications. Provides that the amount of the deduction is the lesser of: (1) 30%; or (2) the percentage of excess energy savings from the installed mechanical insulation property when compared to the minimum energy savings requirements for buildings as published by the American Society of Heating, Refrigerating
and Air-Conditioning Engineers (standard 90.1-2007).
... View more
1
The document is not available in the context of this page. It might be accessible at the following URL: URL