Preface / John C. Cruden

Preface / Elliott P. Laws

About the Authors

I

Introduction

1

II

An Overview of the Three Post-SARA Amendments

4

A

The Asset Conservation, Lender Liability, and Deposit Insurance Protection Act of 1996

4

1

The Law of Lender Liability before the Asset Conservation Act

4

2

The Promulgation and Invalidation of the Lender Liability Rule

6

3

The Law on Fiduciary Liability Prior to the Asset Conservation Act

11

4

The Legislative History of the Asset Conservation Act

12

5

What the Asset Conservation Act Provides

14

6

Cases Interpreting the Asset Conservation Act

17

7

EPA Guidance Documents Relating to the Asset Conservation Act

20

B

The Superfund Recycling Equity Act of 1999

20

1

The Law before SREA

21

2

The Legislative History of SREA

22

3

What SREA Provides

24

4

Cases Interpreting SREA

27

5

EPA Guidance Documents Relating to SREA

32

C

The Small Business Liability Relief and Brownfields Revitalization Act

33

1

Overview of the Act

33

2

The Municipal Solid Waste Exemption

35

3

The De Micromis Exemption and De Minimis Settlement Provisions

39

4

The Brownfields Grants Program

43

5

Changes to the Innocent Landowner Defense, the New Bona Fide Prospective Purchaser Defense and the New Adjoining Landowner Defense

44

6

The State Deferral Provisions

58

7

Cases Interpreting the Brownfields Act

59

III

Text of CERCLA Showing Amended Provisions

61

Subchapter I

Hazardous Substances Releases, Liability, Compensation

61

Subchapter II

Hazardous Response Revenue

211

Subchapter III

Miscellaneous Provisions

211

Subchapter IV

Pollution Insurance

232

IV

EPA Rules and Guidance Documents

237

1

National Oil and Hazardous Substances Pollution Contingency Plan; Lender Liability under CERCLA, 57 Fed. Reg. 18344, Apr. 19, 1992

239

2

Guidance on Agreements with Prospective Purchasers of Contaminated Property (excerpts), May 24, 1995

282

3

Policy on Interpreting CERCLA Provisions Addressing Lenders and Involuntary Acquisitions by Government Entities, Jun. 30, 1997 (http://www.epa.gov/compliance/resources/ policies/cleanup/superfund/lendr-aquis-mem.pdf)

292

4

Bona Fide Prospective Purchasers and the New Amendments to CERCLA, May 31, 2002 (http://www.epa.gov/brownfields/ pdf/bfpp0502.pdf)

296

5

Superfund Recycling Equity Act of 1999; Factors To Consider in a CERCLA Enforcement Case, Aug. 2002 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/srea-guide-1999.pdf)

301

6

Revised Settlement Policy and Contribution Waiver Language Regarding Exempt De Micromis and Non-Exempt De Micromis Parties (excerpts), Nov. 6, 2002 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/wv-exmpt-dmicro-mem.pdf)

331

7

Interim Guidance Regarding Criteria Landowners Must Meet in Order to Qualify for Bona Fide Prospective Purchasers, Contiguous Property Owner, or Innocent Landowner Limitations on CERCLA Liability ("Common Elements"), Mar. 6, 2003 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/common-elem-guide.pdf)

340

8

Common Elements Guidance Reference Sheet (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/common-elem-ref.pdf)

362

9

Regional Determinations Regarding Which Sites Are Not "Eligible Response Sites" under CERCLA Section 101(41)(C)(i), as Added By the Small Business Liability Relief and Brownfields Revitalization Act, Mar. 6, 2003 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/reg-determ-small-bus-mem.pdf)

368

10

Interim Enforcement Discretion Policy concerning "Windfall Liens" Under Section 107(r) of CERCLA (excerpts), Jul. 16, 2003 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/interim-windfall-lien.pdf)

379

11

Issuance of Revised Model CERCLA Section 122(g)(4) De Minimis Contributor Consent Decree and Administrative Order on Consent and New Model Ability to Pay Provisions for Use in De Minimis Settlements (excerpts), Aug. 12, 2003

396

12

Interim Guidance on the Municipal Solid Waste Exemption Under CERCLA [Characters not reproducible] 107(p) (excerpts), Aug. 20, 2003 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/interim-msw-exempt.pdf)

399

13

Interim Enforcement Discretion Guidance Regarding Contiguous Property Owners, Jan. 13, 2004 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/contig-prop.pdf)

410

14

Contiguous Property Owner Guidance Reference Sheet (http://www.epa.gov/Compliance/resources/policies/cleanup/superfund/contig-prop-faq.pdf)

421

15

Interim Guidance on the Ability to Pay and De Minimis Revisions to CERCLA [Characters not reproducible] 122(g) by the Small Business Liability Relief and Brownfields Revitalization Act (excerpts), May 17, 2004 (http://www.epa.gov/compliance/resources/policies/cleanup/superfund/atp-demin-122g-04.pdf)

426

16

Standards and Practices for All Appropriate Inquiries and Notice of Public Meeting To Discuss Standards and Practices for All Appropriate Inquiries; Proposed Rules, 69 Fed. Reg. 52543, Aug. 26, 2004

436

17

Standards and Practices for All Appropriate Inquiries, Final Rule, 70 Fed. Reg. 66070, Nov. 1, 2005

477

V

Excerpts from the Legislative Histories

523

Asset Conservation, Lender Liability, and Deposit Insurance Protection Act of 1996, Public Law. 104-208, Sept. 30, 1996)

523

Congressional Record, Extension of Remarks, E31, January 5, 1996

531

Congressional Record, Senate, S2528, Feb. 10, 1995

532

Congressional Record, Senate, S9874, July 13, 1995

534

S. Rep. No. 104-185, Report of Comm. on Banking, Housing, and Urban Affairs to Accompany S650, The Economic Growth and Regulatory Act of 1995, Dec. 14, 1995

539

H.R. Rep. 104-863, Conference Report, Sept. 28, 1996

547

Congressional Record, Senate, S11896, Sept. 30, 1996

556

Congressional Record, Senate, S11919, Sept. 30, 1996

558

Congressional Record, Senate, S12292, Sept. 30, 1996

561

Superfund Recycling Equity Act, Public Law No. 106-113

563

H.R. Rep. 106, 479, Conference Rpeort to Acccompnay H.R. 3194, Nov. 18, 1999

569

Congressional Record, Senate, S7262, June 18, 1999

576

Congressional Record, Senate, S13086, October 25, 1999

578

Small Business Liability Relief and Brownfields Revitilization Act, Public Law. 107-118, January 11, 2002

589

S. Rep. No 107-2, Comm. On Environment and Public Works, Brownfields Revitalization and Environmental Restoration Act of 2001, Mar. 12, 2001

616

VI

Index to Legislative Histories

649

Full Legislative Histories and Index