Governor Kathy Hochul announced support extending the Brownfield Cleanup Program (BCP) in her State of the State report today. In addition to extending the BCP tax credits which are scheduled to sunset at the end of this year, the Governor’s State of the State Book states that: The Governor will also expand the tangible property […]
NYS Budget Includes Limited Covid-Related Brownfield Amendment After Stakeholders Request More Comprehensive Reforms.
In a prior Post, we discussed that Governor Andrew Cuomo’s proposed executive budget for Fiscal Year 2022 provided an extra two years for owners of brownfield projects that received COCs between March 20, 2010 through January 1, 2012 to claim the qualified tangible property tax (QTP) credit. The extension was intended to provide relief to