H.R. 5472 modifies tax law to help property owners and businesses clean up contaminated land by restoring and expanding tax deductions for environmental cleanup costs. The bill revives a tax provision that expired in 2012, making it available again from 2025 through 2029, and broadens it to include costs for assessing, investigating, and monitoring contaminated sites. It also expands the types of pollutants and contaminants that qualify for these tax deductions. The changes take effect immediately upon enactment and are designed to incentivize brownfield remediation—the cleanup of abandoned or underutilized industrial and commercial properties—by reducing the financial burden on property owners undertaking cleanup efforts. This legislation primarily benefits developers, property owners, and businesses involved in environmental remediation projects.
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