New PA Brownfields Tax Reimbursement Legislation Proposed
Pennsylvania Senate Bill 1062, which was previously introduced by State Senator Wonderling, was recently referred to the Pennsylvania Senate's Environmental Resources and Energy Committee for consideration. As currently drafted, S.B.1062, which closely mirrors New Jersey's Brownfields Reimbursement Fund Program, would allow developers of brownfield sites who have entered into a redevelopment agreement with the Commonwealth of Pennsylvania to recover up to 75% of the costs incurred in remediating the brownfield site. The reimbursement payments would be made from a newly proposed state fund that would purportedly be underwritten by new state tax revenues generated by the brownfield site redevelopment. According to certain state legislators, S.B.1062 may be voted on by the full Senate prior to the close of the current session. For more information concerning S.B.1062, please contact Jonathan Spergel (firstname.lastname@example.org).