The U.S. House of Representatives recently passed H.R. 6049, “Renewable Energy and Job Creation Act of 2008,” which contains about $20 billion of tax incentives for investment in renewable energy, energy efficiency, and conservation. The bill also extends the Commercial Building Tax Deduction (CBTD) for five years, through December 31, 2013. Established through the Energy Policy Act of 2005, CBTD provides a tax deduction benefit to encourage the installation of high-efficiency systems, including lighting, in new and existing buildings.
The next stop for the bill, according to John P. Bachner, communications director for the National Lighting Bureau, Silver Spring, Md., will be the U.S. Senate where it may be combined with other bills. Senate consideration is not likely to occur until after the November elections. Existing CBTD benefits are set to expire on December 31. To view a copy of the bill, visit the House’s Ways and Means Web site.
