[CPEO-BIF] New York tax credits extended

[Lenny Siegel <lsiegel@cpeo.org>]

Brownfields credits: billions

Nine more months added to a very costly cleanup plan that's mainly  
benefiting affluent developers

By Brian Nearing
Albany Times-Union (NY)
June 30, 2012

ALBANY - Before going home for the summer last week, state lawmakers  
quietly added nine more months of life to a pollution cleanup program  
that has turned into a billion-dollar cookie jar for affluent  
developers.

Last week, both the Assembly and Senate voted to extend the  
Brownfield Cleanup Program, and its lucrative system of tax credits,  
to run through December 2015 rather than expiring as previously  
planned in March 2015.

The credits have cost taxpayers more than $1 billion since 2006, with  
critics saying too much of that money has gone to subsidize high-end  
building projects while too little is being used for actual cleanups  
- especially in poor neighborhoods ravaged by industrial pollution.
...

For the entire article, see
http://www.timesunion.com/local/article/Brownfields-credits- 
billions-3676403.php?cmpid=emailarticle&cmpid=emailarticle

--

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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