HR 4480 · 108th Congress 2003–2005, ended

Brownfields Revitalization Act of 2004

Introduced Jun 2, 2004 Originated House Sponsor Michael R. Turner R-OH

Fact sheet

Latest action · Jun 2, 2004 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJun 2, 2004
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Brownfields Revitalization Act of 2004 - Amends the Internal Revenue Code to allow a business tax credit for up to 50 percent of qualified remediation expenditures for contaminated sites (property used in a trade or business on which there has been a release (or threat of release) or disposal of any hazardous substance) in certain poverty-rated areas. Defines "qualified remediation expenditures" as expenditures for: (1) the abatement or control of any hazardous substance, petroleum, or any petroleum by-product at a contaminated site in accordance with a State-approved remediation and redevelopment plan; (2) the complete demolition of a structure; (3) the removal and disposal of property; and (4) the reconstruction of utilities on a contaminated site.

Requires States to allocate credit amounts under an allocation plan that considers specified criteria, including: (1) poverty rates: (2) location of a contaminated site; and (3) the amount of new employment expected to result from redevelopment. Imposes a ceiling on the State environmental remediation credit and limits the national environmental remediation credit for each calendar year to $1 billion. Sets forth special rules for: (1) allocating unused environmental remediation credit carryover amounts among States: (2) adjusting the limitation on the national environmental remediation credit for inflation; (3) assigning portions of the credit; and (4) recapturing credit amounts if a taxpayer fails to properly complete environmental remediation under a State approved remediation and redevelopment plan.

Cosponsors 25

Members who signed on, in the order they did. Signatures ran from Jun 2, 2004 to Sep 9, 2004, with 23 there on the day it was introduced.

SeatCosponsorSigned on
R-INChris ChocolaOriginalJun 2, 2004
R-CTChristopher ShaysOriginalJun 2, 2004
R-OHDavid L. HobsonOriginalJun 2, 2004
R-OHDeborah PryceOriginalJun 2, 2004
R-NYJames T. WalshOriginalJun 2, 2004
R-NHJeb BradleyOriginalJun 2, 2004
R-PAJim GerlachOriginalJun 2, 2004
R-OHJohn A. BoehnerOriginalJun 2, 2004
R-MNJohn KlineOriginalJun 2, 2004
R-PAMelissa A. HartOriginalJun 2, 2004
R-OHMichael G. OxleyOriginalJun 2, 2004
R-MIMike RogersOriginalJun 2, 2004
R-CTNancy L. JohnsonOriginalJun 2, 2004
R-OHPatrick J. TiberiOriginalJun 2, 2004
R-OHPaul E. GillmorOriginalJun 2, 2004
Show all 25 cosponsors

Actions 2

Everything that happened, newest first.

  1. Jun 2, 2004Introduced in House
  2. Jun 2, 2004Referred to the House Committee on Ways and Means.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 2926Brownfields Revitalization Act of 2004Identical billOct 7, 2004

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.