The Brownfields Tax Credit program
was due to expire on August 5, 2018. However, on May 31, 2018, Governor Baker signed the Housing
Bond Bill, H4536, which, among other things, extended the
Brownfields Tax Credit program for an additional five years to
August 23, 2023. The Brownfields Tax Credit program is important to
incentivize innocent developers (i.e. those that did not
contaminate the property or own the property when it was
contaminated) to clean up and develop contaminated sites.
Currently, there are an estimated 40,000 hazardous waste sites in
Massachusetts ranging from small oil spills to Superfund
sites.
The Brownfields Tax Credit allows individual taxpayers,
non-profit organizations, and corporations that undertake clean-up
efforts of these Massachusetts sites to obtain a credit equal to a
portion of the cost of the clean-up. To be eligible for the credit,
the property involved must be owned or leased by the taxpayer for
business purposes and located in
