Brownfields Redevelopment Tax Incentive Reauthorization Act of 2023

This bill extends a tax incentive allowing businesses to immediately deduct costs for cleaning up contaminated properties (brownfields). It modifies the tax code to permit these deductions for expenses paid between 2012-2022 and starting in 2027. The change directly affects developers and property owners involved in brownfields redevelopment projects, enabling them to reduce taxable income for cleanup costs. The policy update avoids requiring capitalization of remediation expenses over time, providing immediate tax relief during specified periods.