Federal RuleAug 21
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DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-hr-5472119th CongressWALLET
Brownfield Revitalization and Remediation Act
Sponsored By: Representative Lawler, Michael [R-NY-17]
Introduced
Summary
Restores and expands immediate tax expensing for environmental cleanup by widening what counts as a qualified remediation cost. The bill ties eligibility to the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) definitions and would change which cleanup expenses businesses can deduct right away.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Mixed tax rules for property cleanups
If enacted, this would change tax rules for cleaning up polluted property. You could deduct reasonable assessment, investigation, and monitoring costs tied to cleanup. It would treat more substances as hazardous for this deduction, which could expand eligible sites. Brownfield sites would be excluded from a special rule that treats some cleanup as depreciable property. The deduction would apply only to costs paid from Jan 1, 2025 through Dec 31, 2029. It would not apply to costs paid after Dec 31, 2011 and before Jan 1, 2025, or to costs paid after Dec 31, 2029. Changes would take effect on enactment.
Sponsors & CoSponsors
Sponsor
Lawler, Michael [R-NY-17]
NY • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov