To amend the Internal Revenue Code of 1986 to provide for the use of redevelopment bonds for environmental remediation.

Summary

Amends the Internal Revenue Code to allow the use of tax-exempt redevelopment bonds for the costs of environmental remediation. Defines "environmental remediation" as: (1) abatement or control of hazardous substances; (2) demolition of existing contaminated structures, permit fees necessary for remediation, and environmental audits; (3) health assessments or health effects studies related to a contaminated site; and (4) remediation of off-site contamination caused by activity on a contaminated site. Denies an income tax deduction for interest paid on redevelopment bonds for environmental remediation if the Administrator of the Environmental Protection Agency determines that a remediation plan financed with redevelopment bonds was not satisfactorily completed.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 July 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 27 July 2005

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• Introduced in House

  summary · EN · 27 July 2005

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