H.R. 1753 — To amend the Internal Revenue Code of 1986 to make the expensing of environmental remediation costs permanent law and to repeal the recapture of such expenses under section 1245 of such Code.

Summary

Amends the Internal Revenue Code to: (1) make permanent the current year tax deduction (expensing) for environmental remediation costs; and (2) repeal requirements for the recapture upon sale of such deduction as ordinary income.

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Legislative Actions

2007-03-29
Introduced in House
2007-03-29
Introduced in House
2007-03-29
Referred to the House Committee on Ways and Means.
2007-03-30
Sponsor introductory remarks on measure. (CR E723)

To amend the Internal Revenue Code of 1986 to make the expensing of environmental remediation costs permanent law and to repeal the recapture of such expenses under section 1245 of such Code.

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