,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #dcag  ,,in ,,the ,,house ,,of  
,,representatives  ,september #ab1      
#bjai,mr4 ,langevin 7for himself and    
,mr4 ,welch7 introduced the following   
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to extend and expand the
 new energy efficient home credit1 to   
extend the energy efficient commercial  
buildings deduction1 to eliminate the   
basis reduction for low-income housing  
properties receiving certain energy     
benefits1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,building ,efficiently ,act of      
#bjai4  #b4 ,extension and expansion of 
new energy efficient home credit  7a7   
,extension of credit ,section #de,l7g7  
of the ,internal ,revenue ,code of #aihf
 is amended by striking ,december #ca1  
#bjag and inserting ,december #ca1      
#bjbj4  7b7 ,credit for qualified energy
 efficient rental property ,paragraph   

7#b7 of section #de,l7a7 of such ,code  
is amended by striking and at the end of
 subparagraph 7,a71 by striking the     
period at the end of subparagraph 7,b7  
and inserting 1 and1 and by adding at   
the end the following3  7,c7 in lieu of 
subparagraphs 7,a7 and 7,b71 in the case
 of qualified new energy efficient home 
that is a qualified energy efficient    
residential rental property1 #c4c       
percent of the cost of construction of  
such property1 reduced by any           
expenditure not taken into account under
 this section by reason of subsection   
7f74  4  7c7 ,qualified energy efficient
 residential rental property defined    
,subsection 7b7 of section #de,l of such
 ,code is amended by adding at the end  
the following3  7#e7 ,qualified energy  
efficient residential rental property   
7,a7 ,in general ,the term qualified    
energy efficient residential real       
property means a building which is      
residential rental property which is    
described in subparagraph 7,b71 7,c71 or

 7,d74  7,b7 ,new or reconstructed      
building ,a building is described in    
this subparagraph if-- 7i7 the          
certification requirements of           
subparagraph 7,e7 with respect to the   
building are met1  7ii7 the original use
 of which commences with the taxpayer1  
and  7iii7 the building is placed in    
service after the date of the enactment 
of the ,building ,efficiently ,act of   
#bjai4  7,c7 ,improvements to existing  
building ,a building is described in    
this subparagraph if1 only after        
improvements are made to the building-- 
7i7 the certification requirements of   
subparagraph 7,e7 with respect to the   
building are met1  7ii7 the original use
 of the improved building commences with
 the taxpayer1  7iii7 the improved      
building is placed in service after the 
date of the enactment of the ,building  
,efficiently ,act of #bjai1 and  7iv7   
the taxpayer elects to the application  
of this paragraph with respect to the   
building4  7,d7 ,buildings acquired by  

purchase ,a building is described in    
this subparagraph if the building--  7i7
 is acquired by purchase from an        
unrelated person1  7ii7 meets the       
certification requirements of           
subparagraph 7,e71 and  7iii7 is placed 
in service after the date of the        
enactment of the ,building ,efficiently 
,act of #bjai4  7,e7 ,certification     
requirements ,the requirements of this  
subparagraph are met if1 with respect to
 a building1 the building is certified  
in accordance with subsection 7d7 as    
being constructed1 reconstructed1 or    
retrofitted1 as the case may be1 under a
 plan designed to reduce energy and     
power consumption of the building by #dj
 percent or more in comparison to--  7i7
 in the case of retrofits made to an    
existing building1 the baseline annual  
energy and power consumption of the     
building1 or  7ii7 in any other case1 a 
reference building which meets the      
minimum requirements of the             
,international ,energy ,conservation    

,code #bjah using methods of calculation
 under subsection 7d74  7,f7 ,baseline  
annual energy and power consumption ,the
 baseline annual energy and power       
consumption of any building shall be    
determined by using-- 7i7 a building    
energy performance benchmarking tool    
designated for purposes of this         
paragraph by the ,administrator of the  
,environmental ,protection ,agency1     
which is based upon energy and power    
consumption data during the #a-year     
period ending on the date on which      
retrofits under the plan are placed in  
service1 or  7ii7 such other methods of 
calculation as certified by the         
,secretary in accordance with subsection
 7d74  7,g7 ,related persons ,for       
purposes of subparagraph 7,d71 a person 
is related to another person if--  7i7  
the persons are members of an affiliated
 group 7as defined in section #aejd71 or
  7ii7 the persons have a relationship  
described in subsection 7b7 of section  
#bfg2 except that1 for purposes of this 

clause1 the phrase #hj percent or more  
shall be substituted for the phrase more
 than #ej percent each place it appears 
in such subsection and rules similar to 
the rules of subsections 7c7 and 7e7    
7other than paragraphs 7#d7 and 7#e7    
thereof7 shall apply4  4  7d7           
,conforming amendment ,section #de,l7d7 
is amended by striking subsection 7c7   
both places it appears and inserting    
subsection 7b77#e7 or 7c74  7e7         
,effective ,dates  7#a7 ,extension ,the 
amendment made by subsection 7a7 shall  
apply to property placed in service     
after ,december #ca1 #bjag4  7#b7       
,qualified energy efficient rental      
property ,the amendments made by        
subsections 7b71 7c71 and 7d7 shall     
apply to property placed in service     
after the date of the enactment of this 
,act1 in taxable years ending after such
 date4  #c4 ,extension of energy        
efficient commercial buildings deduction
  7a7 ,in general ,section #agi;,d7h7 of
 the ,internal ,revenue ,code of #aihf  

is amended by striking ,december #ca1   
#bjag and inserting ,december #ca1      
#bjbj4  7b7 ,effective date ,the        
amendment made by this section shall    
apply to property placed in service     
after ,december #ca1 #bjag4  #d4        
,elimination of basis reduction for     
low-income housing properties receiving 
certain energy benefits  7a7 ,new energy
 efficient home credit ,subsection 7e7  
of section #de,l of the ,internal       
,revenue ,code of #aihf is amended--    
7#a7 by striking adjustment4--,for      
purposes and inserting 8adjustment4--   
7#a7 ,in general ,for purposes  2 and   
7#b7 by adding at the end the following 
new paragraph3  7#b7 ,exception for     
low-income housing properties ,paragraph
 7#a7 shall not apply to any property   
with respect to which a credit is       
allowed under section #db4  4  7b7      
,energy efficient commercial buildings  
deduction ,subsection 7e7 of section    
#agi;,d of the ,internal ,revenue ,code 
of #aihf is amended-- 7#a7 by striking  

reduction4--,for purposes and inserting 
8reduction4--  7#a7 ,in general ,for    
purposes  2 and  7#b7 by adding at the  
end the following new paragraph3  7#b7  
,exception for low-income housing       
properties ,paragraph 7#a7 shall not    
apply to any property with respect to   
which a credit is allowed under section 
#db4  4  7c7 ,energy credit ,paragraph  
7#c7 of section #ej7;c7 of the ,internal
 ,revenue ,code of #aihf is amended--   
7#a7 by striking and at the end of      
subparagraph 7,a72  7#b7 by striking the
 period at the end of subparagraph 7,b7 
and inserting 1 and2 and  7#c7 by adding
 at the end the following new           
subparagraph3  7,c7 paragraph 7#a7 shall
 not apply to any property with respect 
to which a credit is allowed under      
section #db4  4  7d7 ,effective date    
,the amendments made by this section    
shall apply to property placed in       
service after the date of the enactment 
of this ,act1 in taxable years ending   
after such date4