New York DEC Finalizes Definition of “Underutilized” Under Brownfield Cleanup Act Amendments
On July 29, 2016, the New York State Department of Environmental Conservation (“DEC”) announced that it had finalized the definition of “underutilized” for purposes of the 2015 Brownfield Cleanup Act Amendments and eligibility for redevelopment tax credits. The final rule closely tracks DEC’s March 9, 2016 proposed definition, which attracted numerous comments, mostly adverse, from members of the public and the regulated community.