Bill > HR4537

This bill, known as the CHEFS (Cutting Harmful Emissions in Food Service) Act, creates a new tax credit for small restaurant businesses that purchase and install emissions control devices on their cooking equipment. The credit varies based on the total cost of the device, ranging from 10% to 35% of the expenses, with higher percentages for restaurants in historical buildings over 50 years old. To qualify, a restaurant must meet small business size standards and use a wood-fired or coal-fired cook stove or a char broiler. The qualified emissions control device must collect or confine particulate matter 2.5 (PM2.5), a type of air pollution, to prevent its release into the environment. The bill specifies that businesses cannot claim another tax credit or deduction for the same expenses and must reduce the basis of the property by the amount of the credit. The tax credit will apply to taxable years beginning one year after the act's enactment, and the devices will be treated as three-year property for depreciation purposes. The goal is to incentivize small restaurants to invest in cleaner cooking technology that reduces harmful air emissions.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4537/all-info