To amend the Internal Revenue Code of 1986 to expand the expensing of environmental remediation costs.

Summary

Amends the Internal Revenue Code to: (1) make permanent provisions allowing the expensing of environmental remediation costs; (2) revise the definition of "qualified contaminated site" to include toxic as well as hazardous substances; (3) include within the definition of "hazardous or toxic substances" extremely hazardous substances, as defined by Federal law, and petroleum contaminants; and (4) eliminate the recapture of the expensing deduction upon the sale of environmental remediation property.

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Timeline

1. 17 February 2005

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 17 February 2005

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 February 2005

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 February 2005 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 February 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 February 2005

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 17 February 2005

  Open at official source

Sponsors

• Rep. Weller, Jerry [R-IL-11] · R · Sponsor
• XAVIER BECERRA · D · Sponsor
• Rep. Johnson, Nancy L. [R-CT-6] · R · Sponsor
• Rep. Pallone, Frank [D-NJ-6] · D · Cosponsor
• Rep. Simmons, Rob [R-CT-2] · R · Cosponsor
• Rep. Costello, Jerry F. [D-IL-21] · D · Cosponsor
• Michael Turner · R · Cosponsor
• Rep. Paul, Ron [R-TX-22] · R · Cosponsor
• ELIJAH CUMMINGS · D · Cosponsor
• Sen. Menendez, Robert [D-NJ] · D · Cosponsor
• Rep. Frank, Barney [D-MA-4] · D · Cosponsor
• Rep. Hart, Melissa A. [R-PA-4] · R · Cosponsor
• Rep. Meeks, Gregory W. [D-NY-5] · D · Cosponsor
• LOUISE SLAUGHTER · D · Cosponsor
• Bill Pascrell · D · Cosponsor
• Rep. Shays, Christopher [R-CT-4] · R · Cosponsor
• Rep. McHugh, John M. [R-NY-23] · R · Cosponsor
• Rep. Berkley, Shelley [D-NV-1] · D · Cosponsor
• Rep. Miller, Gary G. [R-CA-31] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1986 to expand the expensing of environmental remediation costs.