HVACR Industry Alliance Backs Bipartisan HVACR Expensing Bill
Allowing building owners to expense energy-efficient upgrades
WASHINGTON — The HVACR Alliance announced its endorsement of H.R. 3515, the HVAC Expensing and Technology (HEAT) Act. The bill, introduced by Reps. Pat Tiberi, R-Ohio, and Ron Kind, D-Wis., would allow commercial building owners to expense qualified HVACR equipment under Section 179 of the U.S. Tax Code.
The HEAT Act addresses one of the main policy priorities that were outlined by the Alliance in a Jan. 6, 2017, letter to Congressional leaders and the Trump administration. It would correct an issue that prevented the intended effect of the 2015 PATH Act, which expanded and made permanent Section 179 expensing and removed an exclusion which prohibited the expensing of HVACR products as capital equipment.