This document proposes an amendment to accelerate the depreciation deduction period for Energy Star-labeled replacement roofs to 7 years. It would amend the tax code to define a qualified Energy Star-labeled replacement roof as any replacement roof containing an Energy Star product, and define an Energy Star product as one meeting the Energy Star program requirements for reflective roof products. The amendments would apply to property placed in service after the date of enactment.

7. S.L.C.
AMENDMENT NO. Calendar No.
Purpose: To accelerate the depreciation deduction for Energy
Star-labeled replacement roofs.
IN THE SENATE OF THE UNITED STATES—108th Cong., 1st Sess.
S. 14
To enhance the energy security of the United States, and
for other purposes.
Referred to the Committee on
and ordered to be printed
Ordered to lie on the table and to be printed
AMENDMENT intended to be proposed by Mr. KERRY
Viz:
At the end of title III, insert the following:1
SEC. . SEVEN-YEAR APPLICABLE RECOVERY PERIOD2
FOR DEPRECIATION OF ENERGY STAR-LA-3
BELED REPLACEMENT ROOFS.4
(a) IN GENERAL.—Section 168(e)(3)(C) (defining 7-5
year property), as amended by title V of this Act, is6
amended by striking ‘‘and’’ at the end of clause (iii), by7
redesignating clause (iv) as clause (v), and by inserting8
after clause (iii) the following new clause:9
O:MCGMCG03.583
July 16, 2003

8. 2
S.L.C.
‘‘(iv) any qualified Energy Star-la-1
beled replacement roof.’’.2
(b) DEFINITION OF QUALIFIED ENERGY STAR-LA-3
BELED REPLACEMENT ROOF.—Section 168(i) (relating to4
definitions and special rules), as amended by title V of5
this Act, is amended by inserting at the end the following6
new paragraph:7
‘‘(19) QUALIFIED ENERGY STAR-LABELED RE-8
PLACEMENT ROOF.—9
‘‘(A) IN GENERAL.—The term ‘qualified10
Energy Star-labeled replacement roof’ means11
any replacement roof which contains an Energy12
Star-labeled replacement roof product.13
‘‘(B) ENERGY STAR-LABELED REPLACE-14
MENT ROOF PRODUCT.—The term ‘Energy15
Star-labeled replacement roof product’ means16
any product that meets the requirements of the17
Energy Star program of the Environmental18
Protection Agency for reflective roof products.’’.19
(c) EFFECTIVE DATE.—The amendments made by20
this section shall apply to property placed in service after21
the date of enactment of this Act, in taxable years ending22
after such date.23
O:MCGMCG03.583
July 16, 2003