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Internal Revenue Code of 1986

The main body of federal tax laws in the United States, which outlines rules for income tax, corporate tax, and other federal taxes.

Tax Deduction

An amount that can be subtracted from a person's or company's gross income to reduce the amount of income subject to tax.

Energy Efficient Commercial Building Property

Building components or systems that meet certain energy-saving standards, which currently qualify for a specific tax deduction.

Qualified Energy-Efficient Draft Property

The specific type of equipment that this bill would make eligible for a tax deduction, including energy-efficient stainless steel or aluminum kegs and related tap equipment used in restaurants and bars.

Placed in Service

The date when a property is ready and available for its intended use, whether for business or to produce income.