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Legislative Memo

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BILL:

S.1564 (Thompson)

Support

SUBJECT:

Brownfields Tax Credits

 

DATE:

February 9, 2009

 

The Business Council respectfully opposes this legislation, which would modify eligibility standards for, and calculation of, site redevelopment credits under the state's brownfield program.

Finally, we believe any revisiting of the state's brownfield program should consider other reform issues that will make the program more attractive to potential developers. These include making the administrative process more certain and less burdensome, addressing additional eligibility criteria as discussed above, adopting a more certain definition of “brownfield sites” and others.The Business Council agrees that legislative – and administrative – changes are necessary to make the state's brownfield program a more effective, more efficient environmental and economic development tool.  While there are some positive elements in this bill, we believe that overall it would impede, rather than improve, performance of the state's brownfield program.

For these reasons, The Business Council opposes approval of S.1564.