[CPEO-BIF] Colorado tax credit legislation

[Lenny Siegel <lsiegel@cpeo.org>]

Who exactly will benefit from a bill to offer brownfield  
redevelopment tax credits?

by Ed Sealover
Denver Business Journal (CO)
April 23, 2014

A pair of professionals who could benefit from a proposed tax credit  
for brownfield redevelopment say that the incentive would be helpful  
- but not do-or-die-critical - to their ability to complete projects  
on which they are working.

Senate Bill 73, sponsored by Sen. Cheri Jahn, D-Wheat Ridge, would  
allocate as much as $3 million in tax credits in the next fiscal year  
for companies conducting environmental remediation activities on  
properties proposed for redevelopment. It's scheduled for a key  
hearing Thursday morning in the House Finance Committee.

Senators reduced the funding from $10 million and passed the bill by  
an overwhelming 32-2 margin last week, but questions lingered on  
exactly how much the tax credit would spur rejuvenation of properties  
that have remained empty because of the amount of pollution clean-up  
that's needed. And Jahn said she remains concerned that some House  
members will question if there is room even for $3 million in  
increased tax credits in the budget for the fiscal year that begins  
on July 1.

...

For the entire article, see
http://www.bizjournals.com/denver/blog/capitol_business/2014/04/who- 
exactlywill-benefit-from-a-bill-to-offer.html

--

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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