Amendments to the New York State Brownfield Cleanup Act (BCA) fall well short of what both supporters and critics of the law had hoped at the beginning of the legislative session.

The BCA, while having many favorable features, has been hobbled from the outset by a tax credit scheme that is seen by some as overly generous with respect to lightly contaminated properties on which expensive developments are sited. Because the law provided that cleanup and development dollars were treated equally for tax credit purposes, such sites stood to reap substantial tax benefits even where cleanups were modest in scope and cost. ...

You need to register to view the rest of the article. Click here to subscribe.