HR 815 · 119th CongressIn Committeecongress.gov ↗
What this bill does
AI plain-language summaryThis bill brings back a tax rule that lets businesses immediately deduct the full cost of cleaning up contaminated property instead of spreading those deduction costs over many years. The cleanup must involve removing hazardous substances from business property, income-producing property, or property held for sale. Under this bill, businesses can use this tax treatment for cleanup costs paid between 2025 and 2028.
Sponsor
Rep. Sherrill, Mikie [D-NJ-11]
D
Introduced
January 28, 2025
Policy Area
Taxation
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