HARDI Coordinates Introduction of Bipartisan HVAC Expensing Bill
WASHINGTON, D.C – Heating, Air-conditioning & Refrigeration Distributors International (HARDI) has announced its endorsement of H.R. 3515, the HVAC Expensing and Technology (HEAT) Act introduced by Reps. Pat Tiberi, R-Ohio, and Ron Kind, D-Wis. The HEAT Act would allow for commercial building owners to expense qualified HVACR equipment under Section 179 business expensing.
With a Democrat and Republican co-sponsoring this bill, there is an opportunity for bipartisan support to carry it through the legislative process. The bipartisan 2015 PATH Act signed by President Obama expanded and made permanent Section 179 expensing and removed an exclusion which prohibited the expensing of HVACR products, but there were classification issues with the IRS that prevented the provision for expensing HVACR units from taking effect. The HEAT Act would fix this discrepancy and allow small businesses to invest the capital necessary to bring down their utility costs and energy consumption.