Extension of Tax Deduction for Retrofitting Commercial Buildings Introduced in Senate via Multifamily Executive Magazine

Four U.S. senators are seeking to extend an existing tax deduction for energy-efficient retrofits of commercial and multifamily buildings. The Energy Efficient Commercial Buildings Deduction (Section 179D) is scheduled to expire at the end of 2013.

Senators Dianne Feinstein (D-Calif.), Olympia Snowe (R-Maine), Jeff Bingaman (D-N.M.), and Ben Cardin (D-Md.) introduced the Commercial Building Modernization Act (S. 3591) on Sept. 27, which proposed to extend the Section 179D tax deduction through 2016, while modifying the deduction to target the retrofits of existing commercial buildings.

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