New York State Brownfield Cleanup Act Reform: The Saga Continues

New York State Brownfield Act reform did not survive the crush of last-minute negotiations over the State’s 2014-15 budget. The Governor’s office, the Senate, and Assembly each introduced their own proposals for accomplishing needed reforms but were not able to reach consensus on a path forward.

The attached article reviews the differences among the Governor’s, the Senate’s and the Assembly’s proposals on such key issues as:

  • extending the expiration date for brownfield tax credits;
  • revising the definition of “brownfield site”;
  • restricting tangible property tax credits;
  • redefining costs eligible for tax credit treatment; and
  • establishing a new, streamlined program for sites not seeking tax credits.

The article discusses the merits of the respective proposals and makes suggestions as to how these differences might be resolved.

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