PRESIDENT TO PROPOSE CONVERTING SECT. 179D DEDUCTION TO TAX CREDIT

Thursday, February 3, 2011 - 8:00am

President Barack Obama today announced a Better Buildings Initiative designed to make commercial buildings 20 percent more energy efficient over the next decade by catalyzing private sector investment using incentives to upgrade commercial and municipal buildings. As part of the initiative, the White House announced that the president’s fiscal year 2012 budget will propose, under Internal Revenue Code Section 179D, reforming the current tax deduction for energy efficient commercial building upgrades by converting it to a more generous tax credit. The administration says this change could result in a ten-fold increase in commercial retrofits.

Tune in to the February 8 Tax Credit Tuesday podcast to hear more about this proposal.