NY S06942

Updates environmental zone (EN-Zone) definitions in tax law to use the most recent census data instead of fixed 2000 census data for designating brownfield cleanup areas.

Increases the brownfield site cleanup tax credit cap from $30,000 to $90,000 per taxpayer for environmental remediation insurance premiums paid after executing a brownfield cleanup agreement.

Removes the September 1, 2010 deadline restriction that limited certain brownfield sites from qualifying as environmental zones under subparagraph (B) criteria.

Changes the deadline for establishing environmental zone designations from December 31, 2004 to December 31, 2012.

Repeals section 31 of part H of chapter 1 of the laws of 2003 relating to brownfield redevelopment tax credits.