CERCLA/Superfund
8/31/2009 1:37:59 PM EST
House bill introduced to make permanent a tax incentive to remediate Brownfield sites
Partner, Ropers Majeski Kohn & Bentley
The tax treatment of remediation costs is a wonder to behold in terms of its complexity. Capitalize? Expense? Good luck. If we are serious about wanting contaminated sites addressed, then the costs of such activities should always be allowed to be expensed in the tax year that the money is actually expended. Requiring capitalization of some or all such expenses is a serious disincentive to remedial activities.
As a partial resolution of this issue, Representative Xavier Becerra (D., CA) has introduced HR 3260 [http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.3260:] to make permanent a tax incentive to clean-up contaminated Brownfield sites. It has been referred to the Ways & Means Committee.
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