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BOMA International Advocacy Update - Federal

September 03, 2019 4:35 PM | Dana McKeon (Administrator)

FEDERAL

BOMA-Backed Energy Efficiency Incentive Gains Traction with Senate Leaders

Though currently expired, the Energy Efficient Commercial Building Tax Deduction (commonly referred to as 179D) is the only federal incentive for commercial building owners to increase the energy efficiency of buildings. Originally enacted in 2005, 179D allows for an up to $1.80 per square foot deduction for above code improvements in lighting, envelope and HVAC systems.

BOMA has long championed 179D as an important tool for property owners and managers to achieve advanced levels of energy efficiency, especially where the return on investment has longer-term paybacks. BOMA International President Henry Chamberlain testified last year before the House Ways and Means Committee on the importance of 179D and how the incentive has the potential to transform markets around the country.

Most recently, a bipartisan senate working group was convened to look at expired tax incentives (including 179D) to determine if they were still warranted in a post-tax reform environment. The working group unveiled their findings, specifically mentioning the support from BOMA, as they made a positive recommendation to reinstate 179D. With time running out on the congressional calendar, BOMA will continue to advocate for legislation that extends and enhances this important incentive. 


The Building Owners and Managers Association (BOMA) International is a federation of 88 BOMA U.S. associations and 18 international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10.5 billion square feet of U.S. office space that supports 1.7 million jobs and contributes $234.9 billion to the U.S. GDP. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge.​​ 

BOMA WESTCHESTER

1-800-726-6224 

boma@usa.net

PO Box 7250 N. Arlington NJ 07031-7250 

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