Extending NY's Brownfield Tax Credit — With Major Cutbacks

Law360, New York (February 6, 2014, 2:51 PM EST) -- The New York governor proposed to extend the most significant tax credits associated with New York's Brownfield Cleanup Program as part of his executive budget. The proposal tries to take a middle ground between the cheerleaders of the program, who contend that it has been a widely successful economic development and environmental cleanup program, and the critics, who assert that the tax credits, especially the "tangible property credit," is an unnecessary giveaway to real estate developers....

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