Rep. Sears: Revitalizing brownfields will promote economic development

Sears strives to bring new life back to struggling communities

Columbus—State Representative Barbara Sears (R-Monclova Township) introduced HB 569, legislation that authorizes a refundable tax credits through 2015 for remediation of a contaminated site and returning the site to productive use.

“By enacting this bill, the legislature will be allowing for a great opportunity for businesses and investors to improve from the tax credits and the chance for our cities to thrive by utilizing land that has been left unattended and empty,” said Sears. “It’s a rare occasion to be able to resolve multiple problems with one answer. This bill gives us the chance to improve our business environment while returning life to our cities.”

HB 569 supplements Ohio’s Voluntary Action Program (VAP), which was established in September 1994. The program was created to give companies a way to investigate possible environmental contamination, clean it up if necessary and receive a promise from the State of Ohio that no more cleanups are needed. It also provides for a covenant not to sue for one year.

HB 569 would further promote the intent of the VAP by using economic incentives to achieve the dual goals of environment clean-up and generation of business expansion within struggling communities. Half of the credit is available when the VAP’s successfully completed, the other half when the property is back in usable, tax producing position.

“Contaminated sites are often sold below their value, left vacant, and become community eyesores,” said Sears. “It’s time that we give this program the chance to excel at what it was supposed to do. These credits will give even more weight to an opportunity that investors and businesses could be taking full advantage of.”