Month: January 2014

Governor Cuomo Proposes Sweeping Amendments to Brownfield Program

[Note: This post will be periodically updated as new information becomes available about the proposed legislative changes ] Governor Andrew Cuomo unveiled his budget legislation today. As expected, the legislation proposed sweeping changes to the state Brownfield Cleanup Program (BCP). The proposed legislation adopts the recommendations of the New York State Tax Reform and Fairness Commission …

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NY Expects Record Number of Brownfield Cleanup Completions in 2014

In 2012, New York legislature failed to meaningfully extend the sunset date for the brownfield cleanup program (BCP) tax credits. In that session, the legislature, only extended the expiration date from March 31, 2015 to December 31, 2015. Because BCP applicants must obtain certificates of completion (COC) from the NYS Department of Environmental Conservation (NYSDEC) by the BCP …

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1/3 of NY BCP Projects Fail to Obtain COCs in 2013 Due To Documentation Issues

The New York State Brownfield Cleanup Program (BCP) may offer lucrative tax credits but to paraphrase the old John Houseman commercial, BCP applicants earn their tax credits the hard way. The BCP is demanding program with rigorous cleanup procedures, robust public participation and lots of documentation requirements. The complexity of the BCP is further exacerbated …

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