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In a bid to rehabilitate the Brownfields Tax Credit ( BTC ) application and approval process, the Massachusetts Department of Revenue ( DOR ) has issued final regulations (830 CMR 63.38Q.1) and new administrative procedures (AP 636) governing credit applications received on or after July 9, 2021. These are expected to be promulgated and become official on July 23, 2021. They bring to a close a lengthy review process that began with a working draft in Spring 2020, followed by proposed regulations in January 2021.
The Massachusetts BTC is a non-refundable tax credit allowed to “Eligible Persons,”[1] as defined under the Massachusetts Oil and Hazardous Material Release Prevention and Response Act (Mass. Gen. Laws Ch. 21E), for a percentage of costs incurred in achieving a permanent solution (or remedy operation status) in remediating contaminated property that is owned or leased for business purposes and also is located