text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Energy-Efficient Cool Roof Jobs 
  Act''.
  
  SEC. 2. DEPRECIATION RECOVERY PERIOD FOR CERTAIN ROOF SYSTEMS.
  
      (a) 20-Year Recovery Period.--
              (1) In general.--Subparagraph (F) of section 168(e)(3) of 
          the Internal Revenue Code of 1986 is amended to read as 
          follows:
                      ``(F) 20-year property.--The term `20-year 
                  property' means--
                              ``(i) initial clearing and grading land 
                          improvements with respect to any electric 
                          utility transmission and distribution plant, 
                          and
                              ``(ii) any qualified energy-efficient cool 
                          roof replacement property.''.
              (2) Qualified energy-efficient cool roof replacement 
          property.--Section 168(e) of such Code is amended by adding at 
          the end the following new paragraph:
              ``(9) Qualified energy-efficient cool roof replacement 
          property.--
                      ``(A) In general.--The term `qualified energy-
                  efficient cool roof replacement property' means any 
                  roof system--
                              ``(i) which is placed in service above 
                          conditioned or semi-heated space on an eligible 
                          commercial building,
                              ``(ii) which has a slope equal to or less 
                          than 2:12,
                              ``(iii) which replaces an existing roof 
                          system, and
                              ``(iv) which includes--
                                      ``(I) insulation which meets or 
                                  exceeds the minimum prescriptive 
                                  requirements in tables A-1 to A-9 in 
                                  the Normative Appendix A of ASHRAE 
                                  Standard 189.1-2011, and
                                      ``(II) in the case of an eligible 
                                  commercial building located in a 
                                  climate zone other than climate zone 6, 
                                  7, or 8 (as specified in ASHRAE 
                                  Standard 189.1-2011), a primary roof 
                                  covering which has a cool roof surface.
                      ``(B) Cool roof surface.--The term `cool roof 
                  surface' means a roof the exterior surface of which--
                              ``(i) has a 3-year-aged solar reflectance 
                          of at least 0.55 and a 3-year-aged thermal 
                          emittance of at least 0.75, as determined in 
                          accordance with the Cool Roof Rating Council 
                          CRRC-1 Product Rating Program, or
                              ``(ii) has a 3-year-aged solar reflectance 
                          index (SRI) of at least 64, as determined in 
                          accordance with ASTM Standard E1980, 
                          determined--
                                      ``(I) using a medium-wind-speed 
                                  convection coefficient of 12 W/
                                  m&lt;SUP&gt;2&lt;/SUP&gt;.K, and
                                      ``(II) using the values for 3-year-
                                  aged solar reflectance and 3-year-aged 
                                  thermal emittance determined in 
                                  accordance with the Cool Roof Rating 
                                  Council CRRC-1 Product Rating Program.
                      ``(C) Roof system.--The term `roof system' means a 
                  system of roof components, including roof insulation 
                  and a membrane or primary roof covering, but not 
                  including the roof deck, designed to weather-proof and 
                  improve the thermal resistance of a building.
                      ``(D) Eligible commercial building.--The term 
                  `eligible commercial building' means any building--
                              ``(i) which is within the scope of ASHRAE 
                          Standard 90.1-2010,
                              ``(ii) which is located in the United 
                          States,
                              ``(iii) with respect to which depreciation 
                          (or amortization in lieu of depreciation) is 
                          allowable, and
                              ``(iv) which was placed in service before 
                          the date that is 3 years prior to the date the 
                          roof system described in subparagraph (A) is 
                          placed in service.
                      ``(E) ASHRAE.--The term `ASHRAE' means the American 
                  Society of Heating, Refrigerating and Air-Conditioning 
                  Engineers.''.
      (b) Requirement To Use Straight Line Method.--Paragraph (3) of 
  section 168(b) of the Internal Revenue Code of 1986 is amended by 
  adding at the end the following new subparagraph:
                      ``(J) Any qualified energy-efficient cool roof 
                  replacement property.''.
      (c) Alternative System.--The table contained in section 
  168(g)(3)(B) of the Internal Revenue Code of 1986 is amended by 
  striking the last item and inserting the following new items:
  
          ``(F)(i)...........................................         25 
           (F)(ii)...........................................     27.5''.
      (d) Depreciation Rules for Certain Qualified Energy-Efficient Cool 
  Roof Replacement Property for Purposes of Computing the Earnings and 
  Profits of a Real Estate Investment Trust.--
              (1) In general.--Paragraph (3) of section 312(k) of the 
          Internal Revenue Code of 1986 is amended by adding at the end 
          the following new subparagraph:
                      ``(C) Treatment of qualified energy-efficient cool 
                  roof replacement property.--In the case of any 
                  qualified energy-efficient cool roof replacement 
                  property (within the meaning of section 168(e)(9)), the 
                  adjustment for depreciation to earnings and profits of 
                  a real estate investment trust for any taxable year 
                  shall be determined under the alternative depreciation 
                  method (within the meaning of section 168(g)(2)), 
                  except that the recovery period shall be 20 years.''.
              (2) Conforming amendment.--Subparagraph (A) of section 
          312(k)(3) of such Code is amended by striking ``subparagraph 
          (B),'' and inserting ``subparagraphs (B) and (C),''.
      (e) Effective Date.--The amendments made by this section shall 
  apply to property placed in service after the date of the enactment of 
  this Act.
target: Energy-Efficient Cool Roof Jobs Act - Amends the Internal Revenue Code to classify any qualified energy-efficient cool roof replacement property as 20-year property for depreciation purposes. Defines "qualified energy-efficient cool roof replacement property" as any roof system that: (1) is placed in service above conditioned or semiheated space on an eligible commercial building, (2) has a slope equal to or less than 2:12 (low-slope roof), (3) replaces an existing roof system, and (4) includes insulation meeting specified standards and&nbsp;a primary roof covering that has a cool roof surface. Requires the adjustment for depreciation to the earnings and profits of a real estate investment trust for any taxable year, in the case of&nbsp;such property, to be determined under the alternative depreciation method, except that the recovery period shall be 20 years. 
feat_title: Energy-Efficient Cool Roof Jobs Act