To amend the Internal Revenue Code of 1986 to provide for the use of redevelopment bonds for environmental remediation.
Referred to the House Committee on Ways and Means.
Congressional Research Service
Official summary
Version 00 · Introduced in House · Mar 4, 2004
Amends the Internal Revenue Code to allow the use of tax-exempt redevelopment bonds for the costs of environmental remediation. Defines "environmental remediation" as: (1) abatement or control of hazardous substances; (2) demolition of existing contaminated structures, permit fees necessary for remediation, and environmental audits; (3) health assessments or health effects studies related to a contaminated site; and (4) remediation of off-site contamination caused by activity on a contaminated site. Denies an income tax deduction for interest paid on redevelopment bonds for environmental remediation if the Administrator of the Environmental Protection Agency determines that a remediation plan financed with redevelopment bonds was not satisfactorily completed.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 2, 2025. Consult Congress.gov for the current record.
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