WASHINGTON, Dec. 8 Industry officials are calling for many changes, including a five-year extension, on the commercial tax incentive provision in the 2005 Energy Policy Act.The tax incentives for new buildings, improvements and heating and cooling equipment were listed under section 1331 of the Act when it was passed in August 2005, but only earlier this year did the Internal Revenue Services publish implementation rules and guidelines. The Department of Energy has yet to publish its guidelines for inspection and the deadline is December 2007 to apply for the credits.Two years is insufficient for new building design or major renovations, said Kyle Pitsor, vice president of government relations for the National Electrical Manufacturers Association, at a briefing in Washington Thursday. NEMA recently formed the Commercial Building Tax Deduction Coalition in conjunction with business, trade, government, energy efficiency and other groups and organizations, like the Air-Conditioning and Refrigeration Institute. The goals of the coalition are to have more clear guidelines implemented in a timelier manner and promote the legislation that would extend the provision and possibly increase the credit from $1.80 per square foot to $2.25.Rep. Bart Gordon, D-Tenn., suggested there's legislation on the table and other ideas as well. He mentioned the idea of a federal revolving fund where loans for renewable, energy-efficient buildings could be paid off with the energy savings.Copyright 2006 by UPI
