Extends the duration of certain brownfield redevelopment and remediation tax credits

This bill extends tax credits for the redevelopment and cleanup of a specific brownfield site located at 1800 Park Avenue in East Harlem. It applies only to the property that had a cleanup agreement started before January 21, 2005, and received a completion certificate on or before October 24, 2016. The legislation allows developers to claim these financial incentives for eligible costs incurred up to the 2031 tax year, covering both site preparation and groundwater remediation. Additionally, the bill permits a ten-year benefit period for claiming credits once qualified property is placed in service at the location.