Extends the duration of certain brownfield redevelopment and remediation tax credits with respect to a site located within the Renaissance Commerce Park situate within the city of Lackawanna, Erie county.
STATE OF NEW YORK
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9676
IN SENATE
April 1, 2026
___________
Introduced by Sen. BASKIN -- read twice and ordered printed, and when
printed to be committed to the Committee on Budget and Revenue
AN ACT to extend the duration of certain brownfield redevelopment and
remediation tax credits for certain sites
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. (a) Notwithstanding any provision of law, rule or regu-
2 lation to the contrary, any site for which (i) a brownfield cleanup
3 agreement with the department of environmental conservation was entered
4 into prior to June 23, 2008 with respect to a site located within the
5 Renaissance Commerce Park situate within the city of Lackawanna, Erie
6 county, (ii) which received a certificate of completion on or before
7 December 31, 2017, and (iii) that has not otherwise had property placed
8 in service upon such a site as of the effective date of this act, shall
9 be an eligible site for purposes of the brownfield redevelopment tax
10 credits available to such a site pursuant to section 21 of the tax law
11 as in effect for such a site as of the effective date of this act
12 provided the site preparation component shall be allowed for all appli-
13 cable costs incurred on such a site prior to and within the tax year in
14 which improvements on such a site are placed in service, and for a seven
15 year period following the year property is first placed in service upon
16 such a site, provided, such a date occurs prior to the 2036 tax year,
17 the on-site ground water remediation component shall be allowed for all
18 applicable costs incurred on such a site prior to and within the tax
19 year in which improvements on such a site are placed in service, and for
20 a seven year period following the year property is first placed in
21 service upon such a site, provided, such a date occurs prior to the 2036
22 tax year, and the tangible property credit component shall be allowed
23 for all applicable costs incurred on such a site prior to and within the
24 tax year in which improvements on such a site are placed in service, and
25 for a ten year period (120 months) following the year property is first
26 placed in service upon such a site, provided such a date occurs prior to
27 the 2036 tax year.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01243-01-5
S. 9676 2
1 (b) In addition, any site for which (i) a brownfield cleanup agreement
2 with the department of environmental conservation was entered into prior
3 to June 23, 2008 with respect to a site located within the Renaissance
4 Commerce Park situate within the city of Lackawanna, Erie county, (ii)
5 which received a certificate of completion on or before December 31,
6 2017, and (iii) that has not otherwise had property placed in service
7 upon such a site as of the effective date of this act shall be eligible
8 to claim the tax credit for remediated brownfields available to such a
9 site pursuant to section 22 of the tax law as in effect for such a site
10 as of the effective date of this act provided the benefit period as
11 applicable thereto shall be deemed to be a ten-consecutive-tax-year
12 period beginning with the tax year in which improvements on such a site
13 are placed in service where said benefit period shall begin no later
14 than the 2036 tax year.
15 (c) Further, any site for which (i) a brownfield cleanup agreement
16 with the department of environmental conservation was entered into prior
17 to June 23, 2008 with respect to a site located within the Renaissance
18 Commerce Park situate within the city of Lackawanna, Erie county, (ii)
19 which received a certificate of completion on or before December 31,
20 2017, and (iii) that has not otherwise had property placed in service
21 upon such a site as of the effective date of this act, shall be an
22 eligible site for purposes of claiming the tax credit for remediated
23 brownfields available to such a site pursuant to section 22 of the tax
24 law, provided that such developer as defined under section 22 of the tax
25 law has purchased or in any other way has been conveyed all or any
26 portion of such a site from any other party who or which has been issued
27 a certificate of completion with respect to such site and further
28 provided that such purchase or conveyance occurs no later than the 2036
29 tax year.
30 § 2. This act shall take effect immediately.
