Bill > HR6669

This bill, titled the "No Taxation on PFAS Remediation Act," aims to amend the Internal Revenue Code of 1986 to prevent individuals from being taxed on reimbursements received for cleaning up contamination caused by perfluoroalkyl or polyfluoroalkyl substances, commonly known as PFAS. PFAS are a group of man-made chemicals found in many products that can persist in the environment and in the human body. The bill proposes to create a new section in the tax code that specifically excludes these reimbursement amounts from an individual's gross income, meaning they will not be considered taxable income. This exclusion applies to reimbursements made in tax years beginning after December 31, 2020. Additionally, the bill includes provisions to extend the statute of limitations for filing claims for refunds or credits related to these reimbursements, allowing individuals an extra year from the bill's enactment date to file if their original refund period has already expired.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6669/all-info