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New Federal Brownfields Law |
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Presented by Robin L. Main from Holland &
Knight, LLP * Public Law 107-118, enacted as H.R. 2869, the Small Business Liability Relief and Brownfields Revitalization Act, was signed into law on January 11, 2002 * Definition of brownfields site includes sites contaminated by a controlled substance, petroleum-contaminated sites, and mine scarred land * Definition excludes NPL sites, sites subject to RCRA corrective action, sites subject to an UAO, AOC, court order or consent decree, sites receiving assistance from LUST trust fund, sites subject to remediation under TSCA * Exemption from liability include "innocent parties", which are bona fide prospective purchasers, contiguous landowner, innocent landowners * Obligations include mandate to take all "reasonable steps" to prevent releases, to conduct "all appropriate inquiry", to preserve the effectiveness/integrity of institutional controls, to make legally required disclosures * Issues to watch include: EPA has two years to issue regulations codifying "all appropriate inquiry", guidance on what constitutes "reasonable steps" to prevent releases, guidance on what constitutes "preserving the effectiveness/integrity" of ICs, and windfall profit lien |