Are petroleum and oil eligible contaminants under the Brownfields Tax Incentive?
A9: In December 2006, the tax incentive was amended to allow the deduction of expenses for the cleanup of petroleum products (e.g., crude oil, crude oil condensates, and natural gasoline). This new eligibility for petroleum products applies to cleanup expenses incurred from January 1, 2006 through the incentive’s current expiration date of December 31, 2009.
