Bill > H1627

This bill amends the Brownfields tax credit provisions in the Massachusetts General Laws. The key changes are: (1) expanding the credit to apply to any property the corporation owns, operates, or leases for business purposes (previously limited to property it owned or leased); (2) increasing the maximum credit rate from 40% to 40.0000%; and (3) clarifying that the costs eligible for the credit can include net response and removal costs incurred by the corporation before it first owned, operated, or leased the subject property. These changes aim to provide more favorable tax treatment for corporations involved in the remediation and redevelopment of contaminated "brownfield" properties in the state.

Budget and Finance

https://malegislature.gov/Bills/190/H1627