A bill to amend the Internal Revenue Code of 1954 to provide for the amortization of facilities used for the manufacture of solar heating and cooling equipment.

Allows an income tax deduction with respect to the amortization of the amortizable basis of any certified solar heating and cooling equipment manufacturing facility, based on a period of 60 months.

States that the amortization deduction provided by this section with respect to any month shall be in lieu of the depreciation deduction with respect to such facility for such month.

Provides that in the case of property for which such deduction has been elected, so much of the adjusted basis of the property as constitutes the amortizable basis for purposes of this Act shall not be treated as an investment credit.

Terminates election of such deductions after December 31, 1978.