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Article: New brownfields law enacted. (Insiders Outlook).(Small Business Liability Relief and Brownfields Revitalization Act)(Brief Article)
- Article from:
- Real Estate Weekly
- Article date:
- February 27, 2002
- Author:
CopyrightCOPYRIGHT 2002 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On Jan. 11, President Bush signed the Small Business Liability Relief and Brownfields Revitalization Act into law. The act provides for financial assistance to eligible entities. for the purpose of promoting the cleanup and reuse of brownfields by authorizing $250 million to fund the cleanup of -such sites for each of fiscal years 2002 through 2006. Abandoned brownfields sites are scattered throughout the country. By some counts, the number may be in excess of 500,000 sites.
The act also makes changes to the "innocent land-owner defense" under the federal Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund. In order to claim ...