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Brownfield Credit Report - Calendar Years 2005, 2006, and 2007

Brownfield Credit Report - Calendar Years 2005, 2006, and 2007

Part BB of Chapter 56 of the Laws of 2015 amends Section 171-r to require the Tax Department to produce a supplemental Brownfield Credit Report by January 31, 2016 containing the credits claimed for the years 2005, 2006, and 2007. The mandate requires the Department to include the name of each taxpayer claiming the brownfield redevelopment tax credit, the remediated brownfield credit for real property taxes, or the environmental remediation insurance credit, the amount of credit earned, and information identifying the brownfield project generating the credit.  The Tax Department is also authorized to include any other information that it deems useful in analyzing the effects of the program.

In instances where the credit is earned by a pass-through entity such as a limited liability company (LLC), a partnership, or an S corporation, information will only be reported for the entity; names of individual members of the LLC, partners, or S corp shareholders will not be reported.  Because the credit is fully refundable, the amount of credit earned is equal to the impact on the state financial plan.    

Calendar Years 2005, 2006 and 2007 report (xls)

Calendar Years 2005, 2006 and 2007 report (pdf)

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