Environmental Disqualifying Event

Nexsen Pruet attorneys Jim Bryan and Ernie Pearson write about a new term environmental lawyers need to know - "environmental disqualifying event."  The article appears in the October 2010 edition of the NC Bar Association's Environmental News e-newsletter.

It begins:

Environmental lawyers have a new term to contend with – "environmental disqualifying event." The term arises out of recent legislation in the North Carolina General Assembly. With the backing of Governor Beverly Perdue, the General Assembly enacted legislation on July 10, 2010 designed to assist companies who receive corporate tax credits and incentives but are allegedly in violation of a program implemented by the North Carolina Department of Environment and Natural Resources ("NCDENR").

Under recent interpretations, a pending Notice of Violation from NCDENR has had a real negative impact on a company's ability to keep or obtain tax credits and incentives for economic development projects that create jobs. This in turn significantly hampered the ability of the state to recruit companies. The legislation, House Bill 1973, is an attempt to alleviate the dire consequences of certain NOVs.

Click here to read more from the NC Bar Association's Environmental News e-newsletter.

(printer friendly) Environmental Disqualifying Event.pdf