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A 6893

Relates to certain brownfield redevelopment tax credits

2025 Regular Session Introduced by Gary Pretlow

A.6893 would modify/clarify brownfield redevelopment tax credits, shaping incentives for developers, property owners and lenders to remediate and reuse contaminated sites.

REFERRED TO WAYS AND MEANS
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Bill Summary · A 6893

Summary of New York Assembly Bill A.6893 – Relates to certain brownfield redevelopment tax credits

Basic bill information

  • Bill number: A.6893
  • Title: Relates to certain brownfield redevelopment tax credits
  • Sponsor (primary): J. Gary Pretlow
  • Introduced: March 18, 2025
  • Status: Referred to the Assembly Ways and Means Committee
  • Classification: Bill
  • Related bills (prior sessions): A.2690, A.3502, A.2857, A.2501, A.3261, A.3938, A.3527, A.1692, A.4475

Purpose and intent

Based on the title, A.6893 is intended to address brownfield redevelopment tax credits. The provided information does not include the bill’s full text or a summary of its specific changes. Therefore, the exact objectives (e.g., expanding eligibility, increasing credit amounts, extending duration, introducing new project types, or modifying recipient requirements) cannot be stated precisely from the available materials. The bill’s stated aim is to modify or clarify tax credits related to brownfield redevelopment within the state tax code.

Key provisions (pending full text)

The precise provisions of A.6893 are not provided in the materials available here. When the full text is released, readers should look for:
- Eligibility criteria for brownfield redevelopment tax credits (who qualifies, what constitutes a brownfield site, types of eligible projects).
- Credit amounts, caps, and calculation methods (per-project credits, percentage of eligible costs, inflation adjustments).
- Duration and sequencing (timing of when credits can be claimed, carryforward or carryback rules).
- Limits, caps, and sunset provisions (annual or programmatic limits; any expiration dates).
- Compliance, reporting, and verification requirements (needed reports, third-party verifications, deadlines).
- Interaction with other incentives (coordination with federal credits or other state programs).
- Administration and oversight (which agency administers the credits, audit authority, penalties for noncompliance).

Potential impact and who is affected

  • Developers and project sponsors: Brownfield redevelopment projects could benefit from enhanced or clarified credits, potentially reducing project costs and improving financial viability.
  • Property owners and real estate developers: Owners undertaking remediation and redevelopment may gain fiscal incentives to reuse contaminated or underutilized properties.
  • Local governments and communities: More brownfield redevelopment can spur economic development, job creation, and blight remediation in affected areas.
  • ** lenders and financing entities:** Greater credit incentives can influence project financing structures and risk assessments.
  • State fiscal and environmental policy: Changes to the tax credit program could affect state revenue and environmental cleanup activity; the fiscal impact would be assessed in a fiscal note accompanying the bill.

Procedural timeline and status

  • The bill was introduced on March 18, 2025 and immediately referred to the Assembly Ways and Means Committee.
  • The current status indicates no further action details are available in the provided material. Typically, a Ways and Means referral precedes committee hearings, potential amendments, and a floor vote.

Related context

  • The existence of multiple prior-session brownfield-related bills (A.2690, A.3502, A.2857, A.2501, A.3261, A.3938, A.3527, A.1692, A.4475) suggests ongoing legislative interest in shaping brownfield redevelopment incentives. Tracking these related measures may provide insight into likely provisions or policy directions.

Next steps for readers

  • Obtain the full text of A.6893 to review exact provisions and any fiscal notes.
  • Monitor Assembly Ways and Means actions for hearings, amendments, and votes.
  • Look for the bill’s companion in the Senate (if any) and any enacting language or sunset provisions.
  • Check for an official fiscal impact estimate and implementing regulations once released.

Compiled from official sources — confirm details with the bill’s official record.

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