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.

David J. Freeman is a Director in the Gibbons Real Property & Environmental Law Department.