S. 3716 · 111th Congress
Mechanical Insulation Installation Incentive Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
GillibrandSponsor3 cosponsors · 2 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Mechanical Insulation Installation Incentive Act of 2010 - Amends the Internal Revenue Code to allow an additional tax deduction for the cost of installing mechanical insulation property.
What it does: CRS summary · Introduced in Senate · Aug 5, 2010
Mechanical Insulation Installation Incentive Act of 2010 - Amends the Internal Revenue Code to allow an additional tax deduction for the cost of installing mechanical insulation property. Limits the amount of such deduction to the lesser of 30% and the reduction in energy loss from the installed mechanical insulation property compared to property which meets the minimum requirements of American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) standard 90.1-2007. Allows a deduction for 30% of the cost of replacing such property.
Defines "mechanical insulation property" as insulation materials, facings, and accessory products: (1) placed in service in connection with a mechanical system which is located in the United States and of a character subject to an allowance for depreciation; and (2) utilized for thermal, acoustical, and personnel safety requirements for mechanical piping and equipment, hot and cold applications, and heating, venting and air conditioning applications which can be used in a variety of facilities.
Allows a tax deduction for capital expenditures related to mechanical insulation property.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Mechanical Insulation Installation Incentive Act of 2010
Latest action (Aug 5, 2010): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Aug 5, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.