To amend the Internal Revenue Code of 1986 to improve and extend the deduction for new and existing energy-efficient commercial buildings, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Commercial Building Modernization Act''. (b) Amendment of 1986 Code.--Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.
SEC. 2. EXTENSION AND MODIFICATION OF DEDUCTION FOR ENERGY-EFFICIENT COMMERCIAL BUILDINGS.
(a) Extension.-- (1) Through 2016.--Subsection (h) of section 179D is amended by striking ``December 31, 2013'' and inserting ``December 31, 2016''. (2) Inclusion of multifamily buildings.-- (A) In general.--Subparagraph (B) of section 179D(c)(1) is amended by striking ``building'' and inserting ``commercial building or multifamily building''. (B) Definitions.--Subsection (c) of section 179D is amended by adding at the end the following new paragraphs: ``(3) Commercial building.--The term `commercial building' means a building with a primary use or purpose other than as residential housing. ``(4) Multifamily building.--The term `multifamily building' means a structure of 5 or more dwelling units with a primary use as residential housing, and includes such buildings owned and operated as a condominium, cooperative, or...