EPAct tax aspects of National Hockey League's green initiative

• Published in: Corporate Business Taxation Monthly Vol. 15; no. 5; p. 17
• Main Authors: Bonafe, Andressa, Convey, Seann, Goulding, Charles G
• Format: Journal Article Trade Publication Article
• Language: English
• Published: Riverwoods CCH, Inc 01-02-2014; CCH INCORPORATED
• Subjects: Air conditioning; Energy conservation; Energy consumption; Energy efficiency; Energy policy; Energy Policy Act 2005-US; Engineering firms; Evaluation; Green buildings; Green technology; HVAC; Ice hockey; Initiatives; Laws, regulations and rules; Lighting; Professional baseball; Professional hockey; Sports facilities; Stadiums; Sustainability; Sustainable development; Sustainable living; Tax deductions; Taxation; Ventilation; United States > US
• ISSN: 1528-5294

The National Hockey League (NHL), in partnership with the Natural Resources Defense Council, has implemented a program aimed at fostering sustainable living and business practices for ice rinks. Since its launching in 2010, NHL Green has been at the forefront of the movement for sports sustainability. The comprehensive initiative encompasses efforts in different domains, such as waste management, environment preservation and energy efficiency. Notable examples are the award-winning food recovery program, NHL Rock & Wrap It Up! and the water restoration program, Gallons for Goals. In recent years, the relationship between sports and sustainability has garnered ever-increasing attention. Pursuant to Code Sec. 179D, as enacted by the Energy Policy Act of 2005 (EPAct), properties that make qualifying energy-reducing investments in new or existing locations can obtain immediate tax deductions of up to $1.80 per square foot. EPAct tax savings are driven by square footage. As a result, big structures such as NHL arenas have enormous potential for deductions.