N.Y. Tax Law § 171-R

Current through 2024 NY Law Chapter 456
Section 171-R - Brownfield credit report
(a) The commissioner, in consultation with the commissioner of environmental conservation, must publish a brownfield credit report annually by January thirty-first. The first report must be published by January thirty-first, two thousand nine.
(b) The brownfield credit report must contain the following information about the credits claimed under sections twenty-one, twenty-two and twenty-three of this chapter during the previous calendar year:
(1) the name of each taxpayer claiming a credit; provided however, if the taxpayer claims a credit because the taxpayer is a member of a limited liability company, a partner in a partnership or a shareholder in a subchapter S corporation, the name of each limited liability company, partnership or subchapter S corporation earning any of those credits must be included in the report instead of information about the taxpayer claiming the credit;
(2) the amount of each credit earned by each taxpayer; provided however, if the taxpayer claims a credit because the taxpayer is a member of a limited liability company, a partner in a partnership or a shareholder in a subchapter S corporation, the amount of credit earned by each entity must be included in the report instead of information about the taxpayer claiming the credit;
(3) information identifying the project for which a certificate of completion was issued and the credit claimed under section twenty-one, twenty-two or twenty-three of this chapter, including the name of the project and municipality, including the county, in which the project is located; and
(4) the number of credits by each credit type and the amount of such credits granted, claimed and earned on a brownfield site, statewide and department of environmental conservation region basis; and of those, the number of credits and the average amount of such credits allowed to taxpayers in each county, brownfield opportunity area designated pursuant to section nine hundred seventy-r of the general municipal law and in each environmental zone as defined in subdivision (b) of section twenty-one of this chapter.
(5) copies of all reports received from developers pursuant to section one hundred seventy-one-s of this article or, in the commissioner's discretion, a summary of the contents of such reports.
(c) The information included in the brownfield credit report will be based on the information filed with the department during the previous calendar year, to the extent that it is practicable to use that information.
(d) Such report shall also contain any other information received from the commissioner of environmental conservation with regard to such credits, and any other statistical information that such commissioner deems to be useful in analyzing the effects of the program.
(e) The commissioner, in consultation with the commissioner of environmental conservation, shall publish by January thirty-first, two thousand sixteen a supplemental brownfield credit report containing the information required by this section about the credits claimed for the years two thousand five, two thousand six, and two thousand seven.

N.Y. Tax Law § 171-R

Amended by New York Laws 2015, ch. 56,Sec. BB-24, eff. 7/1/2015 or on the date of publication in the state register of proposed regulations defining "underutilized" as provided in subdivision 30 of section 27-1405 of the environmental conservation law, whichever shall be later.