Bill > HR184

Introduced Session

Mechanical Insulation Installation Incentive Act of 2013 - 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% or the reduction in energy loss from the installed mechanical insulation property compared to property that meets the minimum requirements of American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) standard 90.1-2007. Allows the cost of replacing mechanical insulation property to be treated as a deductible business expense in the current taxable year. 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.

AI Summary

Committee Categories

Michael Grimm (R)*,  Joyce Beatty (D),  Timothy Bishop (D),  Paul Broun (R),  Julia Brownley (D),  Michael Burgess (R),  Cheri Bustos (D),  André Carson (D),  Matt Cartwright (D),  Judy Chu (D),  Rodney Davis (R),  Mario Diaz-Balart (R),  John Dingell (D),  Tammy Duckworth (D),  William Enyart (D),  Elizabeth Esty (D),  Bill Foster (D),  John Garamendi (D),  Sam Graves (R),  Richard Hanna (R),  Rush Holt (D),  Michael Honda (D),  Steven Horsford (D),  Bill Johnson (R),  Hank Johnson (D),  Dave Joyce (R),  Marcy Kaptur (D),  Robin Kelly (D),  Derek Kilmer (D),  Peter King (R),  Ann Kuster (D),  Leonard Lance (R),  Rick Larsen (D),  Daniel Lipinski (D),  Frank LoBiondo (R),  Betty McCollum (D),  David McKinley (R),  Michael Michaud (D),  James Moran (D),  Tim Murphy (R),  Eleanor Holmes Norton (D),  Donald Payne (D),  Gary Peters (D),  Scott Peters (D),  Chellie Pingree (D),  Mark Pocan (D),  David Price (D),  Mike Quigley (D),  Charles Rangel (D),  Cedric Richmond (D),  Jon Runyan (R),  Bobby Rush (D),  Tim Ryan (D),  Linda Sánchez (D),  Brad Schneider (D),  John Tierney (D),  Paul Tonko (D),  Mike Turner (R),  Chris Van Hollen (D),  Marc Veasey (D),  Henry Waxman (D),  Peter Welch (D), 

Referred to the House Committee on Ways and Means. (on 01/04/2013)