Amendments To NY's Brownfield Cleanup Program

Law360, New York (August 29, 2008, 12:00 AM EDT) -- On June 23rd, Governor Paterson signed into law amendments to New York’s Brownfield Cleanup Program (BCP).[1] The BCP amendments changed two of the tax credits that are available to developers of brownfield sites and clarified the circumstances under which tax credits may be transferred. However, the BCP amendments did not alter the eligibility criteria for the BCP.

Background

The Spitzer and Paterson Administrations pushed for BCP reform legislation because they were concerned that the program was too costly and was providing tax credits for projects that...
To view the full article, register now.