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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Mechanical Insulation Installation Incentive Act of 2017

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to provide a tax incentive for the installation and maintenance of mechanical insulation property.

Actions Overview (1)

07/20/2017Introduced in House

All Actions (2)

07/20/2017Referred to the House Committee on Ways and Means.
Action By: House of Representatives
07/20/2017Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means07/20/2017 Referred to

No related bill information was received for H.R.3349.

Subjects (6)

Latest Summary (1)

There is one summary for H.R.3349. View summaries

Shown Here:
Introduced in House (07/20/2017)

Mechanical Insulation Installation Incentive Act of 2017

This bill amends the Internal Revenue Code to allow an additional tax deduction for the cost of installing mechanical insulation property. The bill: (1) limits the amount of such deduction to the lesser of 30% of the cost or the reduction in energy loss from the installed mechanical insulation property compared to property that meets the minimum requirements of American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) standard 90.1-2007; and (2) allows the cost of mechanical insulation property that is placed in service to replace insulation property to be treated as a deductible business expense in the current taxable year.

The bill defines "mechanical insulation property" as insulation materials, facings, and accessory products: (1) placed in service in connection with a mechanical system which is located in the United States and of a character subject to an allowance for depreciation; and (2) utilized for thermal requirements for mechanical piping and equipment, hot and cold applications, and heating, venting and air conditioning applications which can be used in a variety of facilities.

The bill also allows a tax deduction for capital expenditures related to mechanical insulation property.