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Turner bill would revive tax break to revitalize nation’s brownfields

15 May 2018 9:59 AM | Anonymous member (Administrator)

by Ripon Advance News Service 

U.S. Rep. Mike Turner (R-OH) on April 23 introduced bipartisan legislation that would authorize tax deductions toward the cleanup and redevelopment of America’s roughly half-a-million brownfields, which are former industrial or commercial sites that may have environmental contamination. 

“As mayor of Dayton, I developed brownfields to reinvest in our city and spur economic growth, including the building of the Dayton Dragons stadium,” Rep. Turner said. “I know firsthand how important brownfields are for communities looking to rebuild. Our bill extends the brownfields tax credit to help cities like Dayton continue to grow.”

The Brownfields Redevelopment Tax Incentive Reauthorization Act of 2018, H.R. 5579, would amend the Internal Revenue Code of 1986 to extend expensing of environmental remediation costs through 2021. U.S. Rep. Elizabeth Esty (D-CT) joined Turner in introducing H.R. 5579, which has been referred to the U.S. House Ways and Means Committee.

For the entire article, see

https://riponadvance.com/stories/turner-bill-revive-tax-break-revitalize-nations-brownfields/

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