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Echelon Corporation (ELON) Message Board

  • llesko llesko Feb 5, 2009 10:09 AM Flag

    Accelerated Depreciation Stimulus

    SEC. 306. ACCELERATED RECOVERY PERIOD FOR DEPRECIATION OF
    SMART METERS AND SMART GRID SYSTEMS.
    (a) IN GENERAL.—Section 168(e)(3)(D) is amended by striking
    ‘‘and’’ at the end of clause (i), by striking the period at the end
    of clause (ii) and inserting a comma, and by inserting after clause
    (ii) the following new clauses:
    ‘‘(iii) any qualified smart electric meter, and
    ‘‘(iv) any qualified smart electric grid system.’’.
    (b) DEFINITIONS.—Section 168(i) is amended by inserting at
    the end the following new paragraph:
    ‘‘(18) QUALIFIED SMART ELECTRIC METERS.—
    ‘‘(A) IN GENERAL.—The term ‘qualified smart electric
    meter’ means any smart electric meter which—
    ‘‘(i) is placed in service by a taxpayer who is a
    supplier of electric energy or a provider of electric
    energy services, and
    ‘‘(ii) does not have a class life (determined without
    regard to subsection (e)) of less than 10 years.
    ‘‘(B) SMART ELECTRIC METER.—For purposes of subparagraph
    (A), the term ‘smart electric meter’ means any time-
    based meter and related communication equipment which
    is capable of being used by the taxpayer as part of a
    system that—
    ‘‘(i) measures and records electricity usage data
    on a time-differentiated basis in at least 24 separate
    time segments per day,
    ‘‘(ii) provides for the exchange of information
    between supplier or provider and the customer’s electric
    meter in support of time-based rates or other forms
    of demand response,
    ‘‘(iii) provides data to such supplier or provider
    so that the supplier or provider can provide energy
    usage information to customers electronically, and
    ‘‘(iv) provides net metering.
    ‘‘(19) QUALIFIED SMART ELECTRIC GRID SYSTEMS.—
    ‘‘(A) IN GENERAL.—The term ‘qualified smart electric
    grid system’ means any smart grid property which—
    ‘‘(i) is used as part of a system for electric distribution
    grid communications, monitoring, and management
    placed in service by a taxpayer who is a supplier
    of electric energy or a provider of electric energy services,
    and
    ‘‘(ii) does not have a class life (determined without
    regard to subsection (e)) of less than 10 years.
    ‘‘(B) SMART GRID PROPERTY.—For the purposes of
    subparagraph (A), the term ‘smart grid property’ means
    electronics and related equipment that is capable of—
    ‘‘(i) sensing, collecting, and monitoring data of or
    from all portions of a utility’s electric distribution grid,
    ‘‘(ii) providing real-time, two-way communications
    to monitor or manage such grid, and
    ‘‘(iii) providing real time analysis of and event
    prediction based upon collected data that can be used
    to improve electric distribution system reliability,
    quality, and performance.’’.
    (c) CONTINUED APPLICATION OF 150 PERCENT DECLINING BALANCE
    METHOD.—Paragraph (2) of section 168(b) is amended by
    striking ‘‘or’’ at the end of subparagraph (B), by redesignating
    subparagraph (C) as subparagraph (D), and by inserting after
    subparagraph (B) the following new subparagraph:
    ‘‘(C) any property (other than property described in
    paragraph (3)) which is a qualified smart electric meter
    or qualified smart electric grid system, or’’.
    (d) EFFECTIVE DATE.—The amendments made by this section
    shall apply to property placed in service after the date of the
    enactment of this Act.

 
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