Brownfield Revitalization and Remediation Act

The Brownfield Revitalization and Remediation Act (HR 5472) allows businesses to immediately deduct the full cost of cleaning up contaminated properties (brownfields) instead of spreading these costs over time through depreciation. It restores this immediate deduction for cleanup costs incurred between 2012 and 2024, and again after 2029 (excluding 2025-2029), while expanding eligible costs to include assessment, investigation, and monitoring activities at brownfield sites. The bill also treats pollutants and contaminants as hazardous substances for tax purposes, making more cleanup expenses deductible under the Internal Revenue Code. This policy change directly affects businesses undertaking environmental remediation at brownfield sites across the United States.