Cleanup costs at many brownfield sites are now tax-deductible in the year paid or incurred. Sites must satisfy certain requirements and must be certified by the state environmental agency to qualify for the tax relief. Insurance products have been designed for brownfields redevelopment. State and local governments have set up tax incentive and loan programs to promote brownfields reuse. State agencies have established new environmental partnerships and policies to address brownfields concerns.
Many states have new voluntary cleanup programs to encourage and expedite private party cleanups.
Numerous policy changes have been made to remove some of the legal uncertainties under the Superfund law that are often associated with brownfields properties, and affect real estate transactions throughout the country. One such policy is the Prospective Purchaser Agreement Guidance that enables EPA to negotiate settlements with buyers of contaminated property that give up-front certainty and a limit to their liability. Similar policies are in effect in a number of states, including Washington and Oregon. Thirty-five agreements with prospective purchasers have been negotiated in the last several years in these two states combined. EPA's program also offers a variety of financial assistance to states, municipalities and tribes for Brownfields related activities.