Requires an annual brownfields redevelopment tax credit report

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          11412

                                  I N  A S S E M B L Y

                                      May 15, 2026
                                       ___________

        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Bronson) --
          read once and referred to the Committee on Ways and Means

        AN ACT to amend the tax law, in relation to requiring an  annual  brown-
          fields redevelopment tax credit report

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. Paragraph 3-a of subdivision (a) of section 21 of  the  tax
     2  law, as added by chapter 390 of the laws of 2008, is amended by adding a
     3  new subparagraph (E) to read as follows:
     4    (E) (1) THE COMMISSIONER SHALL PUBLISH A BROWNFIELDS REDEVELOPMENT TAX
     5  CREDIT  REPORT  ANNUALLY  ON  OR  BEFORE  JUNE THIRTIETH. THE FIRST SUCH
     6  REPORT SHALL BE PUBLISHED ON OR  BEFORE  JUNE  THIRTIETH,  TWO  THOUSAND
     7  TWENTY-SIX.
     8    (2) THE BROWNFIELDS REDEVELOPMENT TAX CREDIT REPORT SHALL BE ABOUT THE
     9  BROWNFIELDS  REDEVELOPMENT  TAX CREDIT CLAIMED UNDER THIS SECTION DURING
    10  THE PREVIOUS CALENDAR YEAR AND SHALL INCLUDE, BUT NOT BE LIMITED TO:
    11    (I) THE NAME OF EACH TAXPAYER CLAIMING A CREDIT; PROVIDED HOWEVER,  IF
    12  THE  TAXPAYER  CLAIMS  A  CREDIT  BECAUSE  THE TAXPAYER IS A MEMBER OF A
    13  LIMITED LIABILITY COMPANY, A PARTNER IN A PARTNERSHIP OR  A  SHAREHOLDER
    14  IN A SUBCHAPTER S CORPORATION, THE NAME OF EACH LIMITED LIABILITY COMPA-
    15  NY,  PARTNERSHIP  OR  SUBCHAPTER S CORPORATION EARNING ANY OF THE CREDIT
    16  SHALL BE INCLUDED IN THE REPORT INSTEAD OF INFORMATION ABOUT THE TAXPAY-
    17  ER CLAIMING THE CREDIT.
    18    (II) THE AMOUNT OF EACH CREDIT  COMPONENT  EARNED  BY  EACH  TAXPAYER,
    19  INCLUDING  ALL  CREDITS  IDENTIFIED  IN THIS SECTION, INCLUDING, BUT NOT
    20  LIMITED TO, TANGIBLE PROPERTY, SITE PREPARATION, AND ON-SITE GROUNDWATER
    21  REMEDIATION CREDITS; PROVIDED HOWEVER, IF THE TAXPAYER CLAIMS  A  CREDIT
    22  BECAUSE THE TAXPAYER IS A MEMBER OF A LIMITED LIABILITY COMPANY, A PART-
    23  NER IN A PARTNERSHIP OR A SHAREHOLDER IN A SUBCHAPTER S CORPORATION, THE
    24  AMOUNT  OF  CREDIT  EARNED BY EACH ENTITY MUST BE INCLUDED IN THE REPORT
    25  INSTEAD OF INFORMATION ABOUT THE TAXPAYER CLAIMING THE CREDIT.
    26    (III) THE QUALIFIED SITE OR  QUALIFIED  TANGIBLE  PROPERTY  ASSOCIATED
    27  WITH EACH CLAIMED CREDIT IDENTIFIED IN THE ANNUAL REPORT.

         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15493-01-6
        A. 11412                            2

     1    (IV) THE CERTIFICATE OF COMPLETION ASSOCIATED WITH EACH CLAIMED CREDIT
     2  IDENTIFIED IN THE ANNUAL REPORT.
     3    (V)  THE  NUMBER  OF CONSTRUCTION JOBS RELATED TO THE REDEVELOPMENT OF
     4  THE QUALIFIED SITE OR QUALIFIED TANGIBLE PROPERTY ASSOCIATED  WITH  EACH
     5  CLAIMED  CREDIT  IDENTIFIED  IN  THE  ANNUAL  REPORT, INCLUDING, BUT NOT
     6  LIMITED TO:
     7    (A) THE WAGE RATES AND ANY FRINGE OR  SUPPLEMENTAL  BENEFITS  PAID  TO
     8  CONSTRUCTION WORKERS ON SUCH SITE OR PROPERTY ON AN HOURLY BASIS;
     9    (B)  THE AGGREGATED WAGE RATES AND ANY FRINGE OR SUPPLEMENTAL BENEFITS
    10  PAID TO CONSTRUCTION WORKERS ON SUCH SITE OR PROPERTY;
    11    (C) EACH NEW YORK STATE REGISTERED APPRENTICESHIP PROGRAM IN WHICH ANY
    12  CONSTRUCTION WORKERS WHO PERFORMED WORK ON SUCH SITE  OR  PROPERTY  WERE
    13  REGISTERED  AS  APPRENTICES,  OR  ANY  CONTRACTOR OR SUBCONTRACTOR WAS A
    14  SPONSOR OR SIGNATORY; AND
    15    (D) THE NUMBER OF MWBE CONTRACTORS OR SUBCONTRACTORS,  AS  DEFINED  IN
    16  ARTICLE  FIFTEEN-A  OF  THE EXECUTIVE LAW, CONTRACTED TO PERFORM WORK ON
    17  SUCH SITE OR PROPERTY, INCLUDING THE AGGREGATE VALUE OF EACH CONTRACT TO
    18  EACH MWBE CONTRACTOR OR SUBCONTRACTOR CONTRACTED TO PERFORM WORK ON SUCH
    19  SITE OR PROPERTY.
    20    (3) THE BROWNFIELDS REDEVELOPMENT TAX CREDIT REPORT MAY  ALSO  CONTAIN
    21  ANY  OTHER INFORMATION RECEIVED BY THE COMMISSIONER REGARDING THE BROWN-
    22  FIELDS REDEVELOPMENT TAX CREDIT THAT THE COMMISSIONER DEEMS TO BE USEFUL
    23  IN EVALUATING THE USE OF THE CREDIT. THE  INFORMATION  INCLUDED  IN  THE
    24  BROWNFIELDS REDEVELOPMENT TAX CREDIT REPORT SHALL BE BASED ON THE INFOR-
    25  MATION  FILED  WITH THE DEPARTMENT DURING THE PREVIOUS CALENDAR YEAR, TO
    26  THE EXTENT THAT IT IS PRACTICABLE TO USE THAT INFORMATION.
    27    § 2. This act shall take effect immediately.