3.0.0 4480 2023-01-15T04:49:11Z 2023-01-15T04:49:11Z House H HR 2004-06-02 108 hswm00 Ways and Means Committee House Standing Referred to 2004-06-02T14:01:50Z Brownfields Revitalization Act of 2004 108 2926 S 2004-10-07 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10725-10727) Identical bill CRS 2004-06-02 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2004-06-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2004-06-02 Introduced in House IntroReferral 1000 9 Library of Congress T000463 Rep. Turner, Michael R. [R-OH-3] Michael Turner R OH R. 3 N B000589 Rep. Boehner, John A. [R-OH-8] JOHN BOEHNER R OH A. 8 2004-06-02 True B001246 Rep. Bradley, Jeb [R-NH-1] Jeb Bradley R NH 1 2004-06-02 True C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 2004-06-02 True C001052 Rep. Chocola, Chris [R-IN-2] Chris Chocola R IN 2 2004-06-02 True E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2004-06-02 True G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2004-06-02 True G000210 Rep. Gillmor, Paul E. [R-OH-5] PAUL GILLMOR R OH E. 5 2004-06-02 True H001033 Rep. Hart, Melissa A. [R-PA-4] MELISSA HART R PA A. 4 2004-06-02 True H000666 Rep. Hobson, David L. [R-OH-7] DAVID HOBSON R OH L. 7 2004-06-02 True H000676 Rep. Hoekstra, Peter [R-MI-2] PETER HOEKSTRA R MI 2 2004-06-02 True J000163 Rep. Johnson, Nancy L. [R-CT-5] NANCY JOHNSON R CT L. 5 2004-06-02 True K000363 Rep. Kline, John [R-MN-2] John Kline R MN 2 2004-06-02 True L000553 Rep. LaTourette, Steven C. [R-OH-14] STEVEN LATOURETTE R OH C. 14 2004-06-02 True N000081 Rep. Ney, Robert W. [R-OH-18] BOB NEY R OH 18 2004-06-02 True O000163 Rep. Oxley, Michael G. [R-OH-4] MICHAEL OXLEY R OH G. 4 2004-06-02 True P000449 Rep. Portman, Rob [R-OH-2] Rob Portman R OH 2 2004-06-02 True P000555 Rep. Pryce, Deborah [R-OH-15] DEBORAH PRYCE R OH 15 2004-06-02 True R000141 Rep. Regula, Ralph [R-OH-16] RALPH REGULA R OH S. 16 2004-06-02 True R000572 Rep. Rogers, Mike J. [R-MI-8] Mike Rogers R MI 8 2004-06-02 True S001144 Rep. Shays, Christopher [R-CT-4] CHRISTOPHER SHAYS R CT 4 2004-06-02 True T000462 Rep. Tiberi, Patrick J. [R-OH-12] PATRICK TIBERI R OH J. 12 2004-06-02 True J000284 Rep. Jones, Stephanie Tubbs [D-OH-11] STEPHANIE JONES D OH TUBBS 11 2004-06-02 True W000099 Rep. Walsh, James T. [R-NY-25] JAMES WALSH R NY T. 25 2004-06-02 True G000377 Rep. Granger, Kay [R-TX-12] KAY GRANGER R TX 12 2004-09-09 False M001134 Rep. Myrick, Sue Wilkins [R-NC-9] SUE MYRICK R NC WILKINS 9 2004-09-09 False Taxation Brownfields Commerce Cost of living adjustments Depressed areas Economics and Public Finance Enterprise zones Environmental Protection Hazardous wastes Income tax Indexing (Economic policy) Job creation Labor and Employment Law Liability for environmental damages Oil pollution Pollution control Real estate development Refuse and refuse disposal Tax credits Taxation 00 2004-06-02 Introduced in House 2004-08-25T19:29:55Z 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.

]]> Brownfields Revitalization Act of 2004 Display Title Brownfields Revitalization Act of 2004 Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow taxpayers a credit against income tax for expenditures to remediate contaminated sites. Introduced in House IH Short Titles as Introduced Brownfields Revitalization Act of 2004 Introduced in House 2004-06-02T04:00:00Z 2004-06-02 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.