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S. 2388

Energy-Efficient Cool Roof Jobs Act

Energy-Efficient Cool Roof Jobs Act - 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) has a slope equal to or less than 2:12 (low-slope roof), (3) replaces an existing roof system, 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.

Read twice and referred to the Committee on Finance.

Sen. Cardin, Benjamin L. [D-MD](D-MD)Sponsor
4 cosponsors1 D3 R
4cosponsors1committees2actions1related bills7subjects
  • Introduced in SenateMay 22, 2014
  1. IntroReferral

    Read twice and referred to the Committee on Finance.

  2. IntroReferral10000

    Introduced in Senate