Bill > S2007

This bill amends two sections of Massachusetts tax law to expand tax credits for brownfield redevelopment. Specifically, the bill modifies existing provisions in both personal income tax (Chapter 62) and corporate tax (Chapter 63) statutes to explicitly allow tax credits for expenses related to cleaning up and redeveloping contaminated sites. The bill clarifies that these expenses include costs required by the Massachusetts Contingency Plan (a regulatory framework for managing environmental cleanup) and guidance from the Department of Environmental Protection. By adding this language, the bill aims to provide clearer legal support for tax incentives that encourage the rehabilitation of contaminated properties, which can help transform unused or environmentally compromised land into productive sites for new development, potentially supporting economic revitalization and environmental remediation.