Section 43 H.R. 5542 Taxpayer Relief Act of 2000

• Library: Environmental Law 2002 Supp Replacement chs

On December 15, 2000, Congress expanded and extended the Brownfields tax incentive. It modified the expensing of environmental remediation costs. Among other changes is the expansion of sites eligible for such costs. In particular, any site that “is held by the taxpayer for use in a trade or business or for the production of income, or which is property described in section 1221(a)(1) in the hands of the taxpayer, and . . . at or on which there has been a release (or threat of release) or disposal of any...