A bill to amend the Internal Revenue Code of 1986 to expand the expensing of environmental remediation costs.
Last action on Jun 21, 2001Read twice and referred to the Committee on Finance.
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Summary
Amends the Internal Revenue Code with respect to environmental remediation cost expensing to: (1) make such provision permanent; (2) include toxic substances within the definition of "hazardous substance"; (3) include toxic substances or structures containing hazardous or toxic substances within the definition of "qualified contaminated site"; and (4) eliminate a related recapture provision.
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