Brownfields Revitalization Act of 2004

Summary

Brownfields Revitalization Act of 2004 - Amends the Internal Revenue Code to allow a business tax credit for up to 50 percent of qualified remediation expenditures for contaminated sites (property used in a trade or business on which there has been a release (or threat of release) or disposal of any hazardous substance) in certain poverty-rated areas. Defines "qualified remediation expenditures" as expenditures for: (1) the abatement or control of any hazardous substance, petroleum, or any petroleum by-product at a contaminated site in accordance with a State-approved remediation and redevelopment plan; (2) the complete demolition of a structure; (3) the removal and disposal of property; and (4) the reconstruction of utilities on a contaminated site. Requires States to allocate credit amounts under an allocation plan that considers specified criteria, including: (1) poverty rates: (2) location of a contaminated site; and (3) the amount of new employment expected to result from redevelopment. Imposes a ceiling on the State environmental remediation credit and limits the national environmental remediation credit for each calendar year to $1 billion. Sets forth special rules for: (1) allocating unused environmental remediation credit carryover amounts among States: (2) adjusting the limitation on the national environmental remediation credit for inflation; (3) assigning portions of the credit; and (4) recapturing credit amounts if a taxpayer fails to properly complete environmental remediation under a State approved remediation and redevelopment plan.

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Timeline

1. 2 June 2004

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 2 June 2004

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 June 2004

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 June 2004 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 June 2004

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 June 2004

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 2 June 2004

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Turner, Michael R. [R-OH-10] · R · Sponsor
• Rep. Boehner, John A. [R-OH-8] · R · Sponsor
• Rep. Bradley, Jeb [R-NH-1] · R · Sponsor
• Rep. Chabot, Steve [R-OH-1] · R · Sponsor
• Rep. Chocola, Chris [R-IN-2] · R · Sponsor
• Rep. English, Phil [R-PA-3] · R · Sponsor
• Rep. Gerlach, Jim [R-PA-6] · R · Sponsor
• Rep. Gillmor, Paul E. [R-OH-5] · R · Sponsor
• Rep. Hart, Melissa A. [R-PA-4] · R · Sponsor
• Rep. Hobson, David L. [R-OH-7] · R · Sponsor
• Rep. Hoekstra, Peter [R-MI-2] · R · Sponsor
• Rep. Johnson, Nancy L. [R-CT-5] · R · Sponsor
• Rep. Kline, John [R-MN-2] · R · Sponsor
• Rep. LaTourette, Steven C. [R-OH-14] · R · Sponsor
• Rep. Ney, Robert W. [R-OH-18] · R · Sponsor
• Rep. Oxley, Michael G. [R-OH-4] · R · Sponsor
• Sen. Portman, Rob [R-OH] · R · Sponsor
• Rep. Pryce, Deborah [R-OH-15] · R · Sponsor
• Rep. Regula, Ralph [R-OH-16] · R · Sponsor
• Rep. Rogers, Mike J. [R-MI-8] · R · Sponsor
• Rep. Shays, Christopher [R-CT-4] · R · Sponsor
• Rep. Tiberi, Patrick J. [R-OH-12] · R · Sponsor
• Rep. Jones, Stephanie Tubbs [D-OH-11] · D · Sponsor
• Rep. Walsh, James T. [R-NY-25] · R · Sponsor
• Rep. Granger, Kay [R-TX-12] · R · Cosponsor
• Rep. Myrick, Sue Wilkins [R-NC-9] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Brownfields Revitalization Act of 2004