- Introduced -

SB 831 - This act revises part of the abandoned property ("brownfields") law. Privately owned property is eligible for financial assistance under the brownfields program if the city or county approves the project. The act clarifies that grants can only be made for public capital improvements.

The act allows property developers who pay remediation costs to receive directly any remediation tax credits. The Department of Economic Development is given discretion to provide tax credits of up to 100% of eligible remediation costs, but total state incentives are limited to the net state economic impact of the project or the least amount which enables the project to occur.

RUSS HEMBREE