On
January 11, 2002 President Bush signed the "Small Business
Liability Relief and Brownfields Revitalization Act". The
Act makes major changes to the Comprehensive Environmental Response
Compensation & Liability Act (CERCLA) of 1980.
Brownfields
are abandoned, idled or underused property which could have
possible or actual environmental contamination. Approximately
425,000 brownfields exist in the United States today. Many of
these sites are undeveloped because previous environmental regulations
regarding liability issues discouraged local governments, nonprofits,
and other potential developers.
Major Provisions In The Act
1.
Relief for businesses from liability under CERCLA
2.
Promotes the cleanup and reuse of brownfields
3.
Provides financial assistance for brownfields revitalization
4.
Windfall Taxation
1.
Liability Relief
Relief
for small business liability provides two new exemptions from
CERCLA liability for sites listed on the National Priority List
(NPL) the "de micromis exemption" and the "municipal
solid waste exemption". Under the "de micromis"
provision, business, businesses prior to April 1, 2001, that
disposed of less than 110 gallons of liquid materials or 200
pounds of solid materials at an NPL site can receive liability
relief. Under the "municipal solid waste" exemption,
businesses that employed no more than 100 workers and disposed
of only municipal solid waste at NPL sites can receive liability
protection.
2.
Brownfields Redevelopment
The
Act contains certain exceptions to CERCLA's owner/operator liability
provisions, making it easier for a person to purchase or lease
contaminated properties, without being held potentially liable
for the cleanup of the site. Exempts owner/operator if they
conducted "all appropriate inquiry" at the time of
purchase and did not know or have reason to know of contamination.
3.
Financial Assistance
Brownfields
Revitalization Funding has been authorized up to $200 million
per year for brownfields assessment and cleanup. This includes
up to $200,000 per site per year for sites that are not otherwise
subject to a regulatory obligation for corrective action or
remediation.
4.
Windfall Tax
The
"windfall lien" provision provides that United States
government with a lien on the property if the government has
un-recovered response costs and the response action increases
the fair market value of the property. |
