No Taxation on PFAS Remediation Act
Source: Congress.gov ·
308 words in original text
What This Bill Does
This bill changes federal tax law so people don't have to pay income taxes on money they receive to clean up PFAS contamination. PFAS (perfluoroalkyl or polyfluoroalkyl substances) are chemicals that pollute soil and water. The bill says these reimbursement payments should not count as taxable income.
Who It Affects
Taxpayers who receive reimbursement money for PFAS remediation (cleaning up PFAS contamination).
Key Provisions
• Taxpayers do not have to include PFAS remediation reimbursement money in their gross income (the income amount used to calculate taxes) (Sec. 2(a))
• The rule applies to reimbursements received during any taxable year (the period for which you file taxes) (Sec. 2(a))
What Changes
If this bill becomes law, people who get money to pay for cleaning up PFAS contamination will not owe federal income taxes on that money.
Important Definitions
PFAS remediation reimbursements: Money received by a taxpayer to pay for cleaning up contamination caused by perfluoroalkyl or polyfluoroalkyl substances (Sec. 2(a))
Effective Date
Reimbursements made in taxable years beginning after December 31, 2021 (Sec. 2(c))
Important: This plain English summary was generated by AI and is provided for informational purposes only.
It is not legal advice. Always consult the official bill text on Congress.gov
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