What properties are eligible for the Brownfields Tax Incentive?
A3: The Brownfields Tax Incentive is applicable to properties that meet specific land use and contamination requirements. To satisfy the land use requirement, the property must be held by the taxpayer incurring the eligible expenses for use in a trade or business or for the production of income; or the property must be included in the taxpayer’s inventory. To satisfy the contamination requirement, the taxpayer must demonstrate that there has been a release, threat of release, or disposal of a hazardous substance at the property. Sites listed, or proposed for listing, on EPA’s Superfund National Priorities List (NPL) are not eligible for the incentive. Only expenses that are paid for or incurred in connection with the abatement or control of a hazardous substance qualify for the incentive. Taxpayers should consult with their tax counsel to determine which expenses are eligible. Taxpayers must also consult with their appropriate state Brownfields Tax Incentive contact to verify a propert
