Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Provides transferable tax credits for remediating contaminated brownfield sites and redeveloping them for residential, commercial, or industrial use, with enhanced credits for affordable housing and green buildings.
Do I qualify?
Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Property must be accepted into the NYS Brownfield Cleanup Program (BCP)
2.Remediation must meet NYSDEC cleanup standards for the intended post-remediation use
3.Tax credits: site preparation credit (22–50% of costs) + tangible property credit (10–24%)
4.Higher credit rates for projects in environmental justice areas or affordable housing
5.Unrestricted transferability — credits can be sold to third-party investors
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Attracts private investment into low-income communities by allowing investors to receive a 39% federal tax credit over 7 years on investments made through certified Community Development Entities (CDEs).
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The nation's largest affordable rental housing production program, providing dollar-for-dollar federal tax credits to developers who build or rehabilitate affordable rental housing and maintain income and rent restrictions for 30+ years.