H.R. 3892 · 108th Congress
Brownfield Redevelopment Reserve Act
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HartSponsor3 cosponsors · 3 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Brownfield Redevelopment Reserve Act - Amends the Internal Revenue Code to allow an income tax deduction for payments made to a tax-exempt Hazardous Waste Remediation Reserve (Reserve).
What it does: CRS summary · Introduced in House · Mar 4, 2004
Brownfield Redevelopment Reserve Act - Amends the Internal Revenue Code to allow an income tax deduction for payments made to a tax-exempt Hazardous Waste Remediation Reserve (Reserve). Limits such deduction for any taxable year to the lesser of $1,000,000 or the excess (if any) of $1,000,000 over the amount paid into the Reserve for all prior taxable years. Includes in taxpayer gross income any amount distributed from the Reserve and any penalties for self dealing or failure to distribute funds for Reserve purposes. Imposes a penalty of ten percent additional tax for any amount distributed from a Reserve that is not used exclusively to pay qualified hazardous waste costs.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Brownfield Redevelopment Reserve Act
Latest action (Mar 4, 2004): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 4, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.