Bill > S387

This bill makes several revisions to the Brownfields Property Reuse Act, which is designed to encourage redevelopment of environmentally contaminated properties. The bill modifies tax incentives and fee structures for properties undergoing environmental cleanup and redevelopment. Specifically, it clarifies that property owners can receive a tax exclusion for qualifying improvements on brownfields properties for five consecutive years, with a sliding scale of tax exemptions (90% in the first year, decreasing to 10% in the fifth year). The bill also expands the definition of qualifying improvements by requiring written confirmation from the Department of Environmental Quality about a property's brownfields agreement eligibility. Additionally, the bill updates fee provisions for brownfields agreements, requiring prospective developers to pay fees covering the full cost of departmental activities, including negotiation, public notice, and monitoring. It introduces a new provision that allows the department to charge fees for addressing non-compliance with brownfields property requirements and mandates that the department provide documentation for any additional fees charged. The changes aim to provide more clarity and financial incentives for cleaning up and redeveloping contaminated properties in North Carolina, with the tax provisions becoming effective for taxable years beginning on or after July 1, 2025.

Agriculture and Natural Resources, Budget and Finance, Government Affairs

https://www.ncleg.gov/BillLookUp/2025/S387