Extends the duration of certain brownfield redevelopment and remediation tax credits

This bill extends tax credits for a specific brownfield cleanup project located at 1800 Park Avenue in East Harlem. It allows developers working on this site to claim financial incentives for site preparation, groundwater remediation, and tangible property placement that would otherwise expire. The legislation ensures these credits remain available for costs incurred before 2031 and extends the benefit period for the remediated brownfields credit to ten consecutive tax years. Directly affected parties are developers who have already completed cleanup agreements for this location and are planning to place property or purchase the site by the 2031 tax year.