[CPEO-BIF] Florida Governor signs bill to eliminate Voluntary Cleanup Tax Credit ("VCTC") backlog

[Lenny Siegel <lsiegel@cpeo.org>]

PRESS RELEASE 
FLORIDA BROWNFIELDS ASSOCIATION
June 24, 2015

Governor Scott Signs Bill to Eliminate VCTC Backlog

The Florida Brownfields Association ("FBA") announces the passage of a bill that eliminates the current $21.3 million Voluntary Cleanup Tax Credit ("VCTC") backlog by the State Legislature.  This measure, included in the Florida House's tax cut package (House Bill 7141), will bring significant relief to the over 200 Brownfield cleanup and redevelopment applicants and projects current awaiting tax credits.  The Bill was signed into law by Governor Scott on June 17, 2015. 

Florida's VCTC tax credit program serves as the primary state financial incentive to encourage the voluntary cleanup and redevelopment of Brownfield sites and plays a key role in driving investment in Brownfield areas.  For the calendar 2014 year, the total VCTC application amount (approx. $9.38 million) received by the Florida Department of Environmental Protection ("FDEP") was the highest VCTC annual amount ever in Brownfield program history.  

…

For the entire release, see
http://floridabrownfields.org/

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Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope Street
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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