Governor Scott Signs Law Restricting Brownfield Tax Credits

Governor Rick Scott has signed a bill into law that makes it more difficult for property owners to receive “brownfield” tax incentives, the Orlando Sentinel reports.
The reform requires that land must be on or adjacent to polluted areas to receive the incentive. Previously, property owners could receive the tax break if there was the “perception” of contamination, according to Sentinel.
The bill also asks for economic studies to determine the benefits of the incentives to the state.
Companies including Publix and Darden Restaurants have taken advantage of the vaguely worded law to build on land that some contend did not appear contaminated, the Sentinel said.
Larkin Hospital is currently seeking $300,000 in brownfield incentives for a 48-acre site it purchased for a medical school campus in the Naranja Lakes community near Homestead.
In February, the Business Journal reported that BJ’s Wholesale Club was seeking $240,000 in brownfield incentives to build its sixth location in Miami-Dade County.
 
Source:  SFBJ