Brownfields Remediation Permanent Tax Incentive Act

Brownfields Remediation Permanent Tax Incentive Act - Amends the Internal Revenue Code to make permanent the taxpayer election to expense (deduct in the current taxable year) expenditures for environmental remediation (i.e., abatement or control of hazardous substances at contaminated sites).

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3260 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3260

  To amend the Internal Revenue Code of 1986 to make the expensing of 
             environmental remediation costs permanent law.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 20, 2009

  Mr. Becerra (for himself and Mr. Ryan of Wisconsin) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to make the expensing of 
             environmental remediation costs permanent law.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Brownfields Remediation Permanent 
Tax Incentive Act''.

SEC. 2. EXPENSING OF ENVIRONMENTAL REMEDIATION COSTS MADE PERMANENT.

    (a) Provision Made Permanent.--Section 198 of the Internal Revenue 
Code of 1986 (relating to expensing of environmental remediation costs) 
is amended by striking subsection (h).
    (b) Effective Date.--The amendment made by this section shall apply 
to expenditures paid or incurred after December 31, 2009.
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