Abandoned Mine Land Area Redevelopment Act of 2005

H.R. 1165, the Abandoned Mine Land Area Redevelopment Act of 2005, proposes a federal tax credit for individuals or entities that invest in specialized redevelopment bonds. These bonds are designed to fund the cleanup and restoration of lands and waterways damaged by past mining activities, specifically targeting issues like acid mine drainage and environmental pollution. For citizens living in affected regions, the bill aims to revitalize local economies by providing financial assistance for infrastructure upgrades, environmental research, and the transformation of hazardous abandoned sites into usable land for economic development.