On April 21, HR 6, the Energy Policy Act of 2005, was passed in
the U.S. House of Representatives by a 249-183 vote. On June 28,
the Senate passed its version of HR 6 by a 85-12 vote. Both bills
would provide tax incentives for production of fossil fuels and
nuclear energy in the U.S., but the Senate bill would provide more
tax breaks for energy conservation and development of alternative
The Senate bill contains an $18 billion tax package projected to
have a net 11-year cost of $14.05 billion when revenue-raising
offsets are included. The bill would create or extend tax breaks
for such items as "clean coal" technologies; agri-bio diesel fuel;
and electricity produced through wind, biomass and other renewable
resources. It also would provide $3.4 billion in tax breaks over
five years for the construction of energy-efficient residential
property and commercial buildings.
The commercial building tax incentive in the Senate energy bill
would provide a tax deduction equal to the "energy-efficient
commercial building property expenditures made by the taxpayer" up
to a limit of $2.25 per square foot related to the construction or
reconstruction of commercial buildings. To qualify for the tax
deduction, a building owner must prove a commercial building
reduces energy and power costs by 50 percent or more in comparison
to the minimum requirements of ASHRAE 90.1-2001, "Energy Standard
for Buildings Except Low-Rise...
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