118 HR 6438 IH: Brownfields Redevelopment Tax Incentive Reauthorization Act of 2023 U.S. House of Representatives 2023-11-15 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.

I118th CONGRESS1st SessionH. R. 6438IN THE HOUSE OF REPRESENTATIVESNovember 15, 2023Ms. Sherrill (for herself and Mr. Turner) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo 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.