Bipartisan legislation, entitled The Energy Efficient Qualified Improvement Property (E-QUIP)Act, was introduced in the House. The legislation would provide a 10-year SL depreciation expense for high performance energy efficiency building components and would be available to taxpayers that elect out of section 163(j). The provision would apply to improvements made in commercial and multifamily properties, and would apply for taxable income and earnings and profits purposes. Similar to section 179D, a certification by a credentialized professional would be required. For more information about the proposed bill, click here.