Deduction for Brownfields Clean-up Due to Expire

Under current law, the costs incurred in cleaning up certain types of environmental contamination are deductible in the year they are incurred, according to the National Association of REALTORS®. That rule is due to expire as of January 1, 2010. The House of Representatives has extended this provision for an additional year (along with dozens of other expiring rules) in HR 4213. This bill passed December 9 on a largely party-line vote of 241 - 186. It is not known when or if the Senate will take up this bill.