Bill > S1732

This bill, known as the CHEERS Act (Creating Hospitality Economic Enhancement for Restaurants and Servers Act), amends the Internal Revenue Code to expand the existing energy efficient commercial buildings deduction by adding a new category called "qualified energy-efficient draft property." Specifically, the bill allows stainless steel or aluminum kegs and related commercial tap equipment used in restaurants, bars, or entertainment venues to be classified as energy efficient commercial building property, which makes them eligible for tax deductions. This means businesses in the hospitality industry can now receive tax benefits for investing in energy-efficient draft equipment, similar to how they can currently receive deductions for energy-efficient building improvements. The amendment will apply to any such property placed in service after the date of enactment, and the IRS is required to develop regulations to implement and clarify the details of this new tax provision. The goal appears to be providing a financial incentive for businesses to invest in more energy-efficient equipment.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/1732/all-info