qualified contaminated site
Defined in 1 place of the United States Code.
The term “qualified contaminated site” means any area—
(A) which is held by the taxpayer for use in a trade or business or for the production of income, or which is property described in section 1221(a)(1) in the hands of the taxpayer, and
(B) at or on which there has been a release (or threat of release) or disposal of any hazardous substance.
Source
- 2000–present26 U.S.C. § 198Internal Revenue Code · Expensing of environmental remediation costs · for purposes of this section
The term “qualified contaminated site” means any area—
(i) which is held by the taxpayer for use in a trade or business or for the production of income, or which is property described in section 1221(1) in the hands of the taxpayer,
(ii) which is within a targeted area, and
(iii) at or on which there has been a release (or threat of release) or disposal of any hazardous substance.
Source
- 1997–199926 U.S.C. § 198Internal Revenue Code · Expensing of environmental remediation costs · for purposes of this section
The term “qualified contaminated site” means any area—
(i) which is held by the taxpayer for use in a trade or business or for the production of income, or which is property described in section 1221(a)(1) in the hands of the taxpayer,
(ii) which is within a targeted area, and
(iii) at or on which there has been a release (or threat of release) or disposal of any hazardous substance.
Source
- 1999–200026 U.S.C. § 198Internal Revenue Code · Expensing of environmental remediation costs · for purposes of this section