HR5472-119

2. Restoring and expanding expensing of qualified environmental remediation expenditures Section 198(h) of the Internal Revenue Code of 1986 is amended to read as follows: This section shall not apply to expenditures paid or incurred— after December 31, 2011, and before January 1, 2025, or after December 31, 2029. Section 198(b)(1)(B) of such Code is amended by inserting (including reasonable expenditures for the assessment, investigation, and monitoring of such site in connection with such abatement or control) after qualified contaminated site. Section 198(b)(2) of such Code is amended by inserting (other than a brownfield site (as defined in section 101(39) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980)) after qualified contaminated site. Section 198(d)(1) of such Code is amended— by striking and at the end of subparagraph (B), by redesignating subparagraph (C) as subparagraph (D), and by inserting after subparagraph (B) the following new subparagraph: any substance which is a pollutant or contaminant as defined in section 101(33) of such Act, and The amendments made by this section shall take effect upon the date of the enactment of this Act. (h)TerminationThis section shall not apply to expenditures paid or incurred— (1)after December 31, 2011, and before January 1, 2025, or (2)after December 31, 2029.. (C)any substance which is a pollutant or contaminant as defined in section 101(33) of such Act, and.