The New York State Senate today passed legislation (S8717) to reform the state’s Brownfield Cleanup Program to better target financial incentives for the cleanup and redevelopment of contaminated sites across the State. The Brownfields reform bill, which reflects an agreement between the Governor and the Legislature, will help revitalize New York’s urban areas while ensuring that the program is more accountable to taxpayers.
"This legislation reforms the State's Brownfields program to ensure that we continue to provide critical financial resources to clean up and redevelop abandoned Brownfields, and revitalize our urban areas all across this State. These reforms will ensure that this worthy program is more accountable to taxpayers," Senate Majority Leader Joseph L. Bruno said.
"New York State has always been a national leader in the environmental protection arena and we proved that in 2003 when we created a landmark program for the voluntary cleanup of Brownfield sites. That program began the process of removing contamination all across the State. Compromise is the only way to accomplish anything in the legislative game. While this bill does not contain everything I would like, it is positive step towards advancing our common goal of promoting the physical, economic and social revitalization of our communities," Senator Carl L. Marcellino, Chair of the Senate Environmental Conservation Committee, said
The Brownfields legislation will:
* In some cases, provide more than double the current tax incentives for site cleanup, up to 50 percent of cleanup costs.
Limit redevelopment credits for non-manufacturing projects to $35 million or 3 times the cost of site cleanup, whichever is less.
* Limit redevelopment credits for manufacturing projects to $45 million or six times the cost of site remediation, whichever is less.
Streamline administration of the Brownfield Opportunity Area Program.