EXTENSION AND EXPANSION OF EXPENSING OF BROWNFIELDS REMEDIATION COSTS.

SEC. 109. EXTENSION AND EXPANSION OF EXPENSING OF BROWNFIELDS REMEDIATION COSTS.(a) Extension.—Subsection (h) of section 198 is amended by striking “2005” and inserting “2007”.(b) Expansion.—Section 198(d)(1) (defining hazardous substance) is amended by striking “and” at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting “, and”, and by adding at the end the following new subparagraph:“(C) any petroleum product (as defined in section 4612(a)(3)).”.(c) Effective Date.—The amendments made by this section shall apply to expenditures paid or incurred after December 31, 2005.