Bill > S07630

This bill extends the duration of certain brownfield redevelopment and remediation tax credits for a specific site located within the Renaissance Commerce Park in the city of Lackawanna, Erie County. Specifically, it allows the site preparation, on-site groundwater remediation, and tangible property credit components of the brownfield redevelopment tax credits to be claimed for a longer period of time, up to 2036, provided the property has not already been placed in service. Additionally, the bill extends the eligibility period for the tax credit for remediated brownfields for this same site, also up to 2036. The bill aims to incentivize the redevelopment and remediation of this particular brownfield site.