New York S 8930: Relates to persons who may become a voluntary administrator

Bill Text

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S08930 Summary:

BILL NOS08930 

&nbsp

SAME ASSAME AS A10200

&nbsp

SPONSORCOONEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §21, Tax L

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Expands the eligibility of the brownfield redevelopment tax credit; reduces the population numbers to make more qualified sites eligible for such tax credit.

Go to top S08930 Actions:

BILL NOS08930 

&nbsp

01/16/2026REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Go to topS08930 Committee&nbspVotes:

Go to topS08930 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS08930 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8930

 IN SENATE

 January 16, 2026
 ___________

 Introduced by Sen. COONEY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Investigations and Govern-
 ment Operations

 AN ACT to amend the tax law, in relation to the brownfield redevelopment
 tax credit

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph 2 of subdivision (b) of section 21 of the tax
 2 law, as amended by section 1 of subpart B of part J of chapter 59 of the
 3 laws of 2023, is amended to read as follows:
 4 (2) Site preparation costs. The term "site preparation costs" shall
 5 mean all amounts properly chargeable to a capital account, which are
 6 paid or incurred which are necessary to implement a site's investi-
 7 gation, remediation, or qualification for a certificate of completion,
 8 and shall include costs of: excavation; demolition; activities undertak-
 9 en under the oversight of the department of labor or in accordance with
 10 standards established by the department of health to remediate and
 11 dispose of regulated materials including asbestos, lead or polychlori-
 12 nated biphenyls; environmental consulting; engineering; legal costs;
 13 transportation, disposal, treatment or containment of contaminated soil;
 14 remediation measures taken to address contaminated soil vapor; cover
 15 systems consistent with applicable regulations; physical support of
 16 excavation; dewatering and other work to facilitate or enable remedi-
 17 ation activities; sheeting, shoring, and other engineering controls
 18 required to prevent off-site migration of contamination from the quali-
 19 fied site or migrating onto the qualified site; and the costs of fenc-
 20 ing, temporary electric wiring, scaffolding, and security facilities
 21 until such time as the certificate of completion has been issued. Site
 22 preparation shall include all costs paid or incurred within sixty months
 23 after the last day of the tax year in which the certificate of
 24 completion is issued that are necessary for compliance with the certif-
 25 icate of completion or subsequent modifications thereof, or the remedial
 26 program defined in such certificate of completion including but not
 27 limited to institutional controls, engineering controls, an approved

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14384-01-6

 S. 8930 2

 1 site management plan, and an environmental easement with respect to the
 2 qualified site; provided, however, with respect to any qualified site
 3 for which a certificate of completion was issued on or after July first,
 4 two thousand fifteen but on or before June twenty-fourth, two thousand
 5 twenty-one, site preparation shall include all costs paid or incurred
 6 within eighty-four months after the last day of the tax year in which
 7 the certificate of completion is issued that are necessary for compli-
 8 ance with the certificate of completion or subsequent modifications
 9 thereof, or the remedial program defined in such certificate of
 10 completion including but not limited to institutional controls, engi-
 11 neering controls, an approved site management plan, and an environmental
 12 easement with respect to the qualified site, provided, however, with
 13 respect to any qualified site located in cities with a population great-
 14 er than [two hundred five thousand] one hundred seventy-five thousand
 15 and less than two hundred fifteen thousand in counties with a population
 16 greater than [one million] seven hundred thousand but less