Asbestos Removal Tax Credit Bill Clears NY Senate

Law360, New York (June 19, 2012, 6:06 PM EDT) -- The New York State Senate on Monday passed a bill that would give tax credits to New York developers who pay to have asbestos removed from their properties, in an effort to encourage development of blighted buildings.

The legislation, sponsored by state Sen. Mark Grisanti, R-North Buffalo, passed the Republican-majority Senate in an 18-1 vote. Grisanti said the bill is intended to spur economic growth while encouraging the cleanup of unsafe buildings.

“This legislation offers a tax credit to help defray the costs of clean up...
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