,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bbbg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #i1 #bjad ,mr4  
,udall ( ,new ,mexico introduc$ ! foll[+
 bill2 :i* 0 read twice & ref]r$ to !   
,committee on ,f9ance  ,a ,,bill  ,to   
am5d ! ,int]nal ,rev5ue ,code ( #aihf to
 provide a cr$it = prop]ty c]tifi$ by ! 
,environm5tal ,protection ,ag5cy "u !   
,water,sense program4  #a4  ,%ort title 
,?is ,act may be cit$ z ! ,wat]         
,effici5cy ,improvem5t ,act ( #bjad4    
#b4  ,cr$it = ,water,sense program      
prop]ty  7a7  ,9 g5]al  ,subp>t ,b ( "p 
,,iv ( sub*apt] ,a ( *apt] #a ( !       
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new section3  
#cj;,e4  ,water,sense program prop]ty   
7a7  ,all[ance ( cr$it  ,!re %all be    
all[$ z a cr$it aga9/ ! tax impos$ by   
?is *apt] = ! taxable ye> an am\nt equal
 to #cj p]c5t ( ! am\nts paid or incurr$
 by ! taxpay] dur+ su* taxable ye> =    
c]tifi$ ,water,sense program prop]ty4   
7b7  ,lifetime limitation  ,! aggregate 

am\nt ( ! cr$its all[$ "u ?is section ) 
respect to any taxpay] = any taxable ye>
 %all n exce$ ! excess 7if any7 ( #b1jjj
 ov] ! aggregate cr$its all[$ "u ?is    
section ) respect to su* taxpay] = all  
prior taxable ye>s4  7c7  ,c]tifi$      
,water,sense program prop]ty  ,=        
purposes ( ?is section1 ! t]m c]tifi$   
,water,sense program prop]ty means any  
plumb+ fixture or plumb+ fixture fitt+--
  7#a7 :i* has be5--  7,a7 te/$ by an   
,am]ican ,national ,/&>ds ,in/itute     
accr$it$ ?ird-p>ty c]tify+ body or      
laboratory 9 accordance ) !             
,environm5tal ,protection ,ag5cy's      
,water,sense program 7or an analog\s    
successor program71  7,b7 c]tifi$ by su*
 body or laboratory z meet+ ! p]=mance &
 effici5cy requirem5ts ( su* program1 & 
7,c7 au?oriz$ by su* program to use its 
label1 &  7#b7 ! orig9al use ( :i*      
comm5ces ) ! taxpay]4  7d7  ,application
 ) o!r cr$its  7#a7  ,bus9ess cr$it     
treat$ z "p ( g5]al bus9ess cr$it  ,s   
mu* ( ! cr$it :i* w\ld be all[$ "u      

subsection 7a7 = any taxable ye>        
7det]m9$ )\t reg>d to ?is subsection7 t 
is attributable to prop]ty ( a "*       
subject to an all[ance = depreciation   
%all be treat$ z a cr$it li/$ 9 section 
#ch7;b7 = su* taxable ye> 7& n all[$ "u 
subsection 7a774  7#b7  ,p]sonal cr$it  
,= purposes ( ?is title1 ! cr$it all[$  
"u subsection 7a7 = any taxable ye>     
7det]m9$ aft] application ( p>agraph    
7#a77 %all be treat$ z a cr$it all[able 
"u subp>t ,a = su* taxable ye>4  7e7    
,special rules  ,= purposes ( ?is       
section--  7#a7  ,aggregation rules     
,all p]sons treat$ z a s+le employ] "u  
subsection 7a7 or 7b7 ( section #eb1 or 
subsection 7m7 or 7o7 ( section #dad1   
%all be treat$ z "o p]son4  7#b7  ,basis
 r$uction  ,= purposes ( ?is subtitle1 !
 basis ( any prop]ty = :i* a cr$it is   
all[able "u subsection 7a7 %all be r$uc$
 by ! am\nt ( su* cr$it s all[$ 7det]m9$
 )\t reg>d to subsection 7d774  7#c7    
,no d\ble b5efit  ,! am\nt ( any        
d$uction or o!r cr$it all[able "u ?is   

*apt] ) respect to any prop]ty = :i*    
cr$it is all[able "u subsection 7a7 %all
 be r$uc$ by ! am\nt ( cr$it all[$ "u   
subsection 7a7 ) respect to su* prop]ty 
7det]m9$ )\t reg>d to subsection 7d774  
7#d7  ,prop]ty us$ outside unit$ /ates n
 qualifi$  ,no cr$it %all be all[able "u
 subsection 7a7 ) respect to any prop]ty
 ref]r$ to 9 section #ej7;b77#a74  7f7  
,t]m9ation  ,?is section %all n apply to
 any prop]ty plac$ 9 s]vice aft]        
,decemb] #ca1 #bjae4  4  7b7  ,con=m+   
am5dm5ts  7#a7 ,section #ajaf7;a7 ( su* 
,code is am5d$ by /rik+ & at ! end (    
p>agraph 7#cf71 by /rik+ ! p]iod at !   
end ( p>agraph 7#cg7 & ins]t+ 1 &1 & by 
add+ at ! end ! foll[+ new p>agraph3    
7#ch7 to ! ext5t provid$ 9 section      
#cj;,e7e77#b74  4  7#b7 ,! table (      
sections = subp>t ,b ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #cj;,e4 ,water,sense       
program prop]ty4  4  7c7  ,effective    
date  ,! am5dm5ts made by ?is section   

%all apply to prop]ty plac$ 9 s]vice    
aft] ! date ( ! enactm5t ( ?is ,act4