Bill > S09449

This bill extends the duration of certain brownfield redevelopment and remediation tax credits for certain sites located within the Renaissance Commerce Park in the city of Lackawanna, Erie County. The bill allows for extended eligibility periods for the site preparation, on-site ground water remediation, and tangible property credit components of the brownfield redevelopment tax credits, as well as the tax credit for remediated brownfields, provided the sites meet certain criteria, such as having entered into a brownfield cleanup agreement prior to June 23, 2008, receiving a certificate of completion by December 31, 2017, and not having had property placed in service on the site as of the effective date of the bill. The bill aims to incentivize the redevelopment and remediation of these specific brownfield sites.