Extension of Tax Deduction for Environmental Cleanup Costs (Brownfields Redevelopment)
This bill amends the Internal Revenue Code of 1986 to extend the expensing of environmental remediation costs. The amendment applies to costs incurred after December 31, 2011, and before January 1, 2025, or after December 31, 2028. The changes apply to expenditures paid or incurred after December 31, 2024.
Key points
Tax changes: Extends the period for expensing environmental remediation costs.
Timeframe: The provision covers costs incurred after December 31, 2011, and before January 1, 2025, or after December 31, 2028.
Effective date: The amendment applies to expenditures paid or incurred after December 31, 2024.
Status:
Introduced
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