HEAT ALERT

Extreme heat blankets the region with heat advisory, air quality alert issued for the Hudson Valley

Holtec International fined $5 million in tax credit investigation

New Jersey-based Holtec International will pay $5 million in penalties for attempting to secure more state tax credits than it was entitled to.

News 12 Staff

Feb 1, 2024, 10:28 AM

Updated 138 days ago

Share:

The company hired to decommission Indian Point in Buchanan is being forced to pay millions as part of a criminal investigation led by the New Jersey attorney general.
New Jersey-based Holtec International will pay $5 million in penalties for attempting to secure more state tax credits than it was entitled to.
The lawsuit from the state alleges the company attempted to receive double tax credits from "The Angel Investor Tax Credit Program" in 2018. Holtec will avoid any further criminal prosecution as part of the deal.
In a statement to News 12, Holtec denies engaging in any misconduct. The settlement means the company can't apply for more "Angel Investor Tax”credits.


More from News 12