Brownfields Revitalization Act of 2004
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.
- IntroducedJun 2, 2004
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- 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; 23 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IN | Chris Chocola | Original | Jun 2, 2004 |
| R-CT | Christopher Shays | Original | Jun 2, 2004 |
| R-OH | David L. Hobson | Original | Jun 2, 2004 |
| R-OH | Deborah Pryce | Original | Jun 2, 2004 |
| R-NY | James T. Walsh | Original | Jun 2, 2004 |
| R-NH | Jeb Bradley | Original | Jun 2, 2004 |
| R-PA | Jim Gerlach | Original | Jun 2, 2004 |
| R-OH | John A. Boehner | Original | Jun 2, 2004 |
| R-MN | John Kline | Original | Jun 2, 2004 |
| R-PA | Melissa A. Hart | Original | Jun 2, 2004 |
| R-OH | Michael G. Oxley | Original | Jun 2, 2004 |
| R-MI | Mike Rogers | Original | Jun 2, 2004 |
| R-CT | Nancy L. Johnson | Original | Jun 2, 2004 |
| R-OH | Patrick J. Tiberi | Original | Jun 2, 2004 |
| R-OH | Paul E. Gillmor | Original | Jun 2, 2004 |
| R-MI | Peter Hoekstra | Original | Jun 2, 2004 |
| R-PA | Phil English | Original | Jun 2, 2004 |
| R-OH | Ralph Regula | Original | Jun 2, 2004 |
| R-OH | Rob Portman | Original | Jun 2, 2004 |
| R-OH | Robert W. Ney | Original | Jun 2, 2004 |
| D-OH | Stephanie Tubbs Jones | Original | Jun 2, 2004 |
| R-OH | Steve Chabot | Original | Jun 2, 2004 |
| R-OH | Steven C. LaTourette | Original | Jun 2, 2004 |
| R-TX | Kay Granger | Sep 9, 2004 | |
| R-NC | Sue Wilkins Myrick | Sep 9, 2004 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jun 2, 2004 |
Actions 2
Everything that happened, newest first.
- Jun 2, 2004Introduced in House
- Jun 2, 2004Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 108-71 | SELECT TAX ISSUES96 pages | Ways and Means Committee | Sep 23, 2004 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2926 | Brownfields Revitalization Act of 2004 | Identical bill | Oct 7, 2004 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to allow taxpayers a credit against income tax for expenditures to remediate contaminated sites.
- Short Titles as Introduced
- Brownfields Revitalization Act of 2004
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Brownfields
- Commerce
- Cost of living adjustments
- Depressed areas
- Economics and Public Finance
- Enterprise zones
- Environmental Protection
- Hazardous wastes
- Income tax
- Indexing (Economic policy)
- Job creation
- Labor and Employment
- Law
- Liability for environmental damages
- Oil pollution
- Pollution control
- Real estate development
- Refuse and refuse disposal
- Tax credits
- Taxation
Text 1
Each version as it was printed, newest first.
- Jun 2, 2004Introduced in House
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.