Brownfields Redevelopment Tax Incentive Reauthorization Act of 2023

Bill: 118-hr-6438
Sponsor: full_name: Rep. Sherrill, Mikie [D-NJ-11]
Introduced: 2023-11-15
Policy area: Taxation
Latest action: action_date: 2023-11-15
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 118th CONGRESS 1st Session H. R. 6438 IN THE HOUSE OF REPRESENTATIVES November 15, 2023 Ms. Sherrill (for herself and Mr. Turner ) 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 extend expensing of environmental remediation costs.

1. Short title This Act may be cited as the Brownfields Redevelopment Tax Incentive Reauthorization Act of 2023 . 2. Extension of expensing of environmental remediation costs (a) In general Section 198(h) of the Internal Revenue Code of 1986 is amended by striking incurred after December 31, 2011 and inserting the following: incurred— (1) after December 31, 2011, and before January 1, 2023, or (2) after December 31, 2026. . (b) Effective date The amendment made by subsection (a) shall apply to expenditures paid or incurred after December 31, 2022.