The budget proposed by Governor Andrew Cuomo includes significant changes to the state’s Brownfield Cleanup Program (BCP). Among other things, the governor is proposing to extend the program for a decade, limit the availability of certain of the tax credits provided by it, and change the eligibility rules for participating in the program. If adopted, the proposed changes would become effective July 1, 2014.
A Brief History
Over a decade ago, the New York Legislature enacted the Brownfield Cleanup Program Act to encourage voluntary remediation of brownfield sites for reuse and redevelopment.1 The act currently defines a brownfield site as “any real property, the redevelopment or reuse of which may be complicated by the presence or potential presence of a contaminant.”2 The act defines the term contaminant as “hazardous waste and/or petroleum.”3
