119 STAT. 1024
PUBLIC LAW 109–58—AUG. 8, 2005
(2) Section 1245(a), as amended by this Act, is amended by inserting ‘‘179D,’’ after ‘‘179C,’’ both places it appears in paragraphs (2)(C) and (3)(C). (3) Section 1250(b)(3) is amended by inserting before the period at the end of the first sentence ‘‘or by section 179D’’. (4) Section 263(a)(1), as amended by this Act, is amended by striking ‘‘or’’ at the end of subparagraph (I), by striking the period at the end of subparagraph (J) and inserting ‘‘, or’’, and by inserting after subparagraph (J) the following new subparagraph: ‘‘(K) expenditures for which a deduction is allowed under section 179D.’’. (5) Section 312(k)(3)(B), as amended by this Act, is amended by striking ‘‘179, 179A, 179B, or 179C’’ each place it appears in the heading and text and inserting ‘‘179, 179A, 179B, 179C, or 179D’’. (c) CLERICAL AMENDMENT.—The table of sections for part VI of subchapter B of chapter 1, as amended by this Act, is amended by inserting after section 179C the following new item: ‘‘Sec. 179D. Energy efficient commercial buildings deduction.’’. 26 USC 179D note.
(d) EFFECTIVE DATE.—The amendments made by this section shall apply to property placed in service after December 31, 2005. SEC. 1332. CREDIT FOR CONSTRUCTION OF NEW ENERGY EFFICIENT HOMES.
(a) IN GENERAL.—Subpart D of part IV of subchapter A of chapter 1 (relating to business related credits), as amended by this Act, is amended by adding at the end the following new section: ‘‘SEC. 45L. NEW ENERGY EFFICIENT HOME CREDIT.
‘‘(a) ALLOWANCE OF CREDIT.— ‘‘(1) IN GENERAL.—For purposes of section 38, in the case of an eligible contractor, the new energy efficient home credit for the taxable year is the applicable amount for each qualified new energy efficient home which is— ‘‘(A) constructed by the eligible contractor, and ‘‘(B) acquired by a person from such eligible contractor for use as a residence during the taxable year. ‘‘(2) APPLICABLE AMOUNT.—For purposes of paragraph (1), the applicable amount is an amount equal to— ‘‘(A) in the case of a dwelling unit described in paragraph (1) or (2) of subsection (c), $2,000, and ‘‘(B) in the case of a dwelling unit described in paragraph (3) of subsection (c), $1,000. ‘‘(b) DEFINITIONS.—For purposes of this section— ‘‘(1) ELIGIBLE CONTRACTOR.—The term ‘eligible contractor’ means— ‘‘(A) the person who constructed the qualified new energy efficient home, or ‘‘(B) in the case of a qualified new energy efficient home which is a manufactured home, the manufactured home producer of such home. ‘‘(2) QUALIFIED NEW ENERGY EFFICIENT HOME.—The term ‘qualified new energy efficient home’ means a dwelling unit— ‘‘(A) located in the United States,
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