118th CONGRESS 1st Session |
To amend the Internal Revenue Code of 1986 to exclude PFAS remediation reimbursements from gross income.
April 13, 2023
Mr. Pappas introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to exclude PFAS remediation reimbursements from gross income.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “No Taxation on PFAS Remediation Act”.
SEC. 2. Exclusion of PFAS remediation reimbursements from gross income.
(a) In general.—Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section:
“Gross income shall not include any amounts received by the taxpayer during the taxable year which are attributable to a reimbursement for remediation of contamination by a perfluoroalkyl or polyfluoroalkyl substance.”.
(b) Clerical amendment.—The table of sections for such part III is amended by inserting after the item relating to section 139I the following new item:
“Sec. 139J. PFAS remediation reimbursements.”.
(c) Effective date.—The amendments made by this section shall apply to reimbursements made in taxable years beginning after December 31, 2021.