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American Institute of Architects endorses Energy Efficiency Tax Incentive

Posted by   /  August 2, 2017  /  No Comments

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“Investing in smart, money-saving designs not only means a better bottom line for designers and building owners, but also means lower tax bills for Americans nationwide,” said AIA President Thomas Vonier.

ARCHITECT

The American Institute of Architects (AIA) released the following statement on Friday:

The American Institute of Architects (AIA) strongly voiced its support of bipartisan legislation that makes permanent a key energy efficiency tax incentive for owners and designers of energy efficient buildings and that expands its benefits to designers of hospitals, schools, tribal community facilities and other non-profits. H.R. 3507 introduced by Rep. Dave Reichert (R-WA) and co-sponsored by Rep. Tom Reed (R-NY), and Rep. Earl Blumenauer (D-OR) also modifies Section 179D of the tax codethe Energy-Efficient Commercial Building Deductionto make small to midsized architect firms organized as subchapter S corporations eligible for the deduction.

The section 179D tax deduction was originally passed by Congress as part of the Energy Policy Act of 2005 and has been extended several times until it last expired at the end of 2016. A recent economic study found that nearly a million jobs over ten years and billions of dollars in annual GDP are created by this widely used deduction. This is the first time the provision has received bipartisan support for permanence.

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