Commercial Building Tax Deduction Set to Expire
The Commercial Building Tax Deduction (CBTD) is set to expire on Dec. 31, unless Congress and the President authorize an extension.
Established through the Energy Policy Act of 2005, the CBTD encourages the use of energy-efficient equipment and design techniques in new and existing buildings.
??According to a recent pres release from the National Lighting Bureau, the U.S. Senate failed to pass a five-year CBTD extension when it failed to approve S. 3335, the "Jobs, Energy, Families, and Disaster Relief Act of 2008." Introduced by Senate Finance Committee Chair Max Baucus (D-Mont.) and Senate Majority Leader Harry Reid (D-Nev.), the bill addressed an array of energy and other issues. It would have extended the CBTD through 2013.
??National Lighting Bureau Communications Director John P. Bachner said that "constituent advocacy may be needed to prevent the CBTD from expiring. It's doubtful that Congress will go into a 'lame duck' session after the elections. If the CBTD is to be saved, it will need to be done in September," after Congress returns on Sept. 8.
??Established in 1976, the National Lighting Bureau is a not-for-profit, independent, lighting information source sponsored by professional societies, trade associations, manufacturers, and agencies of the U.S. government.