Brown conservation creditos department environmental field program tax

The selection of remedy is based on the characterization of nature and extent of contamination on the site and qualitative exposure assessment.

A Participant in the Brownfield Cleanup Program must evaluate and implement an effective remedy that addresses not only contamination on-site but any contamination that has migrated off-site.

A Volunteer in the Brownfield Cleanup Program must evaluate and implement an effective remedy to address the contamination on-site as well as prevent further migration of contamination to off-site properties. The Remedial Alternatives Analysis Report identifies one or more remedial alternatives and evaluates the effectiveness of each alternative with respect to the remedy selection evaluation criteria as presented in 6 NYCRR Part and DER Once a remedy has been proposed, a fact sheet will be issued noticing the availability of the Remedial Work Plan Remedial Alternatives Analysis or Remedial Action Work Plan and presenting the proposed remedy for a day public comment period.

DEC will consider the public comments for final remedy selection, have the applicant revise the plan as necessary, and issue a final Decision Document which describes the selected remedy. The applicant s may then design and perform the cleanup action to address the site contamination, with oversight by DEC and the NYS Department of Health. The reforms address many issues with the current BCP.

Specifically, the legislation: Continues tax credits for 10 years with program reforms. The following provisions apply to sites accepted into the BCP after July 1, Sites will have until March 31, to receive a certificate of completion. This reform focuses tax credits on blighted areas and sites by limiting eligibility for redevelopment credits in New York City to: All sites outside of New York City will be eligible for the Tangible Property Credit without being subject to the new tests, provided that: Contamination in groundwater or soil vapor is not solely emanating from off-site, and The property has not been previously remediated under the RCRA, Superfund, Brownfield or Environmental Restoration or Spill Response programs for its then-intended use.

The only remediation costs eligible for the Site Preparation Credit are those associated with investigation, remediation or are necessary to obtain a certificate of completion for the site. The costs associated with building demolition and for remediating asbestos, PCBs and lead in structures at the site also qualify for the Site Preparation Credit.

The costs of foundations which exceed the equivalent of a site cover system do not qualify for the Site Preparation Credit. Redevelopment credits are limited to property with a useful life of at least 15 years, and non-portable equipment, machinery, and associated fixtures and appurtenances on the site. Payments for related party service fees developer fees can only be claimed when they are actually paid and cannot be claimed under the site preparation or groundwater credits.

BCP Application Requirements for "Underutilized" Determination Underutilized Property: If an Applicant requests a determination that a Brownfield Cleanup Program BCP site, located in a city with a population of one million or more, is eligible for Tangible Property Tax Credits as an underutilized property, the property must be underutilized as of the date of the application.

During the course of an audit, you may be required to provide documentation to substantiate entitlement based on the specific facts of your tax credit claim. See Brownfield redevelopment tax credit recordkeeping requirements for more information on the recordkeeping requirements for this credit. To learn about other New York State tax credits available to businesses, see Business incentives.

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