integral part of a Clean Energy Business Zone 
business, and 
‘‘(B) any gain attributable to periods be-
fore the date of the enactment of this section or 
after December 31, 2014. 
‘‘(f) EXPENSING OF PORTION OF COST OF QUALI-
FIED CLEAN ENERGY FACILITIES.— 
‘‘(1) IN GENERAL.—A taxpayer may elect to 
treat the cost of any qualified clean energy facility 
property as an expense which is not chargeable to 
capital account. Any cost so treated shall be allowed 
as a deduction for the taxable year in which the 
property is placed in service. 
‘‘(2) MAXIMUM AMOUNT OF DEDUCTION.— 
‘‘(A) IN GENERAL.—The deduction under 
paragraph (1) for any taxable year shall not ex-
ceed $1,000,000. 
‘‘(B) DEDUCTION ALLOWED FOR ONLY 5 
YEARS.—A deduction shall be allowed under 
this paragraph for any qualified clean energy 
facility property only for the taxable year dur-
ing which the qualified clean energy facility is 
placed in service and for the first 4 taxable 
years thereafter. 
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‘‘(3) QUALIFIED
CLEAN
ENERGY
FACILITY 
PROPERTY.—For purposes of this subsection, the 
term ‘qualified clean energy facility property’ means 
any property— 
‘‘(A) with respect to which depreciation (or 
amortization in lieu of depreciation) is allow-
able, and 
‘‘(B) which is installed on or in any quali-
fied clean energy facility. 
‘‘(4) BASIS REDUCTION.—For purposes of this 
subtitle, if a deduction is allowed under this sub-
section with respect to any qualified clean energy fa-
cility property, the basis of such property shall be 
reduced by the amount of the deduction so allowed. 
‘‘(5) TERMINATION.—This subsection shall not 
apply to property placed in service after December 
31, 2014. 
‘‘(g) DEFINITIONS.—For purposes of this section— 
‘‘(1) QUALIFIED GREEN BUILDING.— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
Green building’ means any building which is lo-
cated in a Clean Energy Business Zone and 
which meets the standards prescribed by the 
Administrator of the Environmental Protection 
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Agency under subparagraph (B) for such build-
ing. 
‘‘(B) STANDARDS.—The Administrator of 
the Environmental Protection Agency shall de-
velop and implement, in consultation with the 
Secretary of Energy, standards for a national 
energy and environmental building retrofit pol-
icy for single-family and multifamily residences. 
The Administrator shall develop and implement, 
in consultation with the Secretary of Energy 
and the Director of Commercial High-Perform-
ance Green Buildings, standards for a national 
energy and environmental building retrofit pol-
icy for nonresidential buildings. The programs 
to implement the residential and nonresidential 
policies based on the standards developed under 
this subparagraph shall together be known as 
the Retrofit for Energy and Environmental 
Performance (REEP) program. 
‘‘(2) QUALIFIED
CLEAN
ENERGY
FACILITY.— 
The term ‘qualified clean energy facility’ means any 
facility which is located in a Clean Energy Business 
Zone and which relates to the manufacture or re-
search of clean energy or clean energy technologies, 
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including the components used in such manufacture 
or research and the production of clean energy.’’. 
(b) CLERICAL AMENDMENT.—The table of sub-
chapters for chapter 1 of such Code is amended by adding 
at the end the following new item: 
‘‘SUBCHAPTER Z. CLEAN ENERGY BUSINESS ZONES.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years ending after the 
date of the enactment of this Act. 
SEC. 3. WAIVER OF SBA LOAN FEES. 
(a) SECTION 7(a) LOANS.—Paragraph (18) section 
7(a) of the Small Business Act is amended by adding at 
the end the following new subparagraph: 
‘‘(C) NO FEE PERMITTED FOR CLEAN EN-
ERGY CONSTRUCTION LOANS.—No fee may be 
imposed under this paragraph with respect to 
any loan made before January 1, 2022, for the 
construction of any qualified Green building (as 
defined in section 1400V–2(g) of the Internal 
Revenue Code of 1986) or any qualified clean 
energy facility (as defined in such section).’’. 
(b) SECTION 504 LOANS.—Paragraph (2) of section 
503(d) of the Small Business Investment Act of 1958 is 
amended by adding at the end the following new sentence: 
‘‘No fee may be imposed under this paragraph with re-
spect to any loan made before January 1, 2022, for the 
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construction of any qualified Green building (as defined 
in section 1400V–2(g) of the Internal Revenue Code of 
1986) or any qualified clean energy facility (as defined 
in such section).’’ 
Æ 
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