HR 4740 113th Congress House Taxation Building construction Business investment and capital Corporate finance and management Energy efficiency and conservation Financial services and investments Income tax deductions Real estate business

Roofing Efficiency Jobs Act of 2014

Introduced: May 22, 2014 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 22, 2014

Introduced in House

May 22, 2014

Referred to the House Committee on Ways and Means.

Plain-English summary Congressional Research Service

Roofing Efficiency Jobs Act of 2014 - Amends the Internal Revenue Code to classify any qualified energy-efficient cool roof replacement property as 20-year property for depreciation purposes. Defines "qualified energy-efficient cool roof replacement property" as any roof system that: (1) is placed in service above conditioned or semiheated space on an eligible commercial building, (2) replaces an existing roof system, (3) is a low-slope roof, and (4) includes insulation meeting specified standards and a primary roof covering that has a cool roof surface. Requires the adjustment for depreciation to the earnings and profits of a real estate investment trust for any taxable year, in the case of such property, to be determined under the alternative depreciation method, except that the recovery period shall be 20 years.

What's happening now May 22, 2014

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1