Tucked into the fiscal year 2019 budget released on Jan. 16 by Governor Andrew Cuomo is a proposal that, if adopted by the Legislature, could have a devastating effect on the state’s brownfield cleanup program (BCP).

The governor is proposing to defer brownfield tax credits (as well as a variety of other tax credits, such as the historic tax credit) for three years to the extent a particular credit for a taxpayer exceeds $2 million. If enacted into law as part of the budget package, the change would affect brownfield projects now in progress—even though they had been promised tax credits and undoubtedly had relied on them.

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