New York State Legislature Passes Bill Amending Brownfield Cleanup Law

The New York State Brownfield Cleanup Law, which has been under a NYSDEC-imposed 90-day moratorium since April, will be amended shortly. 

Among the amendments are a cap on a portion of the tax credits  available for redeveloping contaminated property, increases in tax credits  applicable to remediation costs, certain additional reporting requirements, the creation of an advisory board as well as several other changes to the 2003  Law. 

The agreement, reached by the Governor and Legislature at the end of the legislative session, is reflected in a Bill introduced by Senator Marcellino  (S08717), which has been passed by the Legislature and is expected to be signed into law shortly. Once the bill is signed into law, the NYSDEC moratorium  will end. 

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