[CPEO-BIF] Debate over extension of New York tax credits

[Lenny Siegel <lsiegel@cpeo.org>]

Sandy's damage fuels call to extend clean-up program State tax-credit  
program due to sunset is needed to remove new brownfields from disaster

By Rick Karlin
Albany Times Union (NY)
December 19, 2012

ALBANY - Superstorm Sandy's path of destruction included the creation  
of new "brownfield" sites on Long Island, polluted tracts of land  
that need environmental cleanup before they can be redeveloped.

That's the result of up-ended oil tanks and similar wreckage. And  
it's all the more reason that the state's Brownfield Cleanup Program  
tax credits should be extended beyond December 2015, say supporters.

The tax credit program, dating from 2003, is set to sunset unless  
lawmakers keep it going.

There's little indication that the program won't be renewed, but the  
mere threat of its departure has real estate developers worried, and  
reluctant to start projects without assurances that the tax breaks  
will come through.

Environmentalists and community activists, though, continue to  
maintain that too many tax credits are going to well-funded projects  
that may not need the money.


...

For the entire article, see
http://www.timesunion.com/local/article/Sandy-s-damage-fuels-call-to- 
extend-clean-up-4133279.php

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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