Bill > H3851

This bill extends the Brownfields tax credit, which provides a tax credit for the cleanup and redevelopment of contaminated properties, also known as Brownfields. Specifically, the bill extends the tax credit until 2023, expands the eligibility criteria to include properties that are owned, operated, or leased, and increases the maximum credit amount from 40% to 40.0000%. The bill also allows for the inclusion of net response and removal costs incurred before the taxpayer or organization first owned, operated, or leased the subject property, and provides an additional eligibility criterion for developments with at least 20% of the residential units restricted to households making 120% or less of the area median income.

Budget and Finance

https://malegislature.gov/Bills/190/H3851