HR 877
109th Congress
House
Taxation
Commerce
Environmental Protection
Hazardous wastes
Income tax
Oil pollution
Tax deductions
To amend the Internal Revenue Code of 1986 to expand the expensing of environmental remediation costs.
Introduced: February 17, 2005
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 17, 2005
Referred to the House Committee on Ways and Means.
Feb 17, 2005
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1