Section 179D: Extended for 2015 and 2016

Congress has passed a tax extenders package that renews the Section 179D energy-efficient building deduction for two years — 2015 and 2016. (The 2015 renewal applies retroactively to buildings placed into service since the beginning of this year.)

The renewal came as part of the Protecting Americans from Tax Hikes (PATH) Act. The act made a number of popular business and individual tax incentives permanent, while renewing others — among those Section 179D.

The measure had strong bipartisan support in both legislative chambers, passed in the House by a vote of 318-109, and the Senate with a 65-33. It awaits President Obama’s signature.

The bill made one important change to Section 179D: In 2016, the standard for modeling energy efficiency will be made more stringent, changing from ASHRAE 90.1-2001 to ASHRAE 90.1-2007.  Concord has completed an in-depth regulatory review on this change in ASHRAE standards, and their impact on project eligibility for the 179D deduction in 2016.

CONCORD is your partner in providing all of the Section 179D services required in order to take advantage of this valuable federal tax deduction. Please call Concord today at 888-897-5445 or by email at info@concordlp.com.  For immediate assistance contact Concord Managing Member Dennis J. Stilger, Jr. at dennis@concordlp.com or 888-897-5445.