No Taxation on PFAS Remediation Act

Bill: 118-hr-2615
Sponsor: full_name: Rep. Pappas, Chris [D-NH-1]
Introduced: 2023-04-13
Policy area: Taxation
Latest action: action_date: 2023-04-13
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2023-04-13
action_desc: Introduced in House
text: <p> <strong>No Taxation on PFAS Remediation Act </strong></p> <p>This bill excludes from gross income, for income tax purposes, reimbursements for remediation of contamination by a perfluoroalkyl or polyfluoroalkyl substance.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 2615 IN THE HOUSE OF REPRESENTATIVES April 13, 2023 Mr. Pappas 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 exclude PFAS remediation reimbursements from gross income.

1. Short title This Act may be cited as the No Taxation on PFAS Remediation Act . 2. Exclusion of PFAS remediation reimbursements from gross income (a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section: 139J. PFAS remediation reimbursements Gross income shall not include any amounts received by the taxpayer during the taxable year which are attributable to a reimbursement for remediation of contamination by a perfluoroalkyl or polyfluoroalkyl substance. . (b) Clerical amendment The table of sections for such part III is amended by inserting after the item relating to section 139I the following new item: Sec. 139J. PFAS remediation reimbursements. . (c) Effective date The amendments made by this section shall apply to reimbursements made in taxable years beginning after December 31, 2021.