[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4427 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 4427

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


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 13, 2021

  Ms. Sherrill (for herself and Mr. Turner) introduced the following 
      bill; which was referred to the Committee on Ways and Means

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                                 A BILL


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

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Brownfields Redevelopment Tax 
Incentive Reauthorization Act of 2021''.

SEC. 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, 2021, 
        or
            ``(2) after December 31, 2024.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to expenditures paid or incurred after December 31, 2020.
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