Massachusetts Economic Stimulus Bill Passes House

On October 6, the Massachusetts House passed its Economic Stimulus Bill, including elements favorable to brownfield redevelopment. It is un-known whether the bill will move on to the Senate or the Senate will introduce their own bill. Brownfield components included in the bill are:

• Extending the Brownfields Tax Credit until 2012 and making it assignable so that community development corporations and other non-profits can use it.
• Recapitalizing the Brownfields Redevelopment Fund with $30 million. Included in it is a set-aside of $200,000 for a study on the need for lead and asbestos remediation. BFN