3.0.0 452 2023-01-11T20:04:28Z 2023-01-11T20:04:28Z Senate S S 2007-01-31 110 ssev00 Environment and Public Works Committee Senate Standing Referred to 2007-01-31T20:53:54Z 2007-01-31 ssev00 Environment and Public Works Committee Senate Read twice and referred to the Committee on Environment and Public Works. IntroReferral 2007-01-31 Introduced in Senate IntroReferral 10000 9 Library of Congress C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA N B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2007-01-31 True L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2007-01-31 True Environmental Protection Administrative procedure Bankruptcy Commerce Congress Congressional investigations Congressional reporting requirements Consent decrees Corporate management Debtor and creditor Economics and Public Finance Environmental Protection Agency Environmental assessment Finance and Financial Sector Government Operations and Politics Governmental investigations Hazardous wastes Indexing (Economic policy) Law Liability for environmental damages Liability insurance Licenses Liens Self-insurance Transportation and Public Works Transportation of hazardous substances Trusts and trustees Environmental Protection 00 2007-01-31 Introduced in Senate 2007-03-06T16:23:38Z Cleanup Assurance and Polluter Accountability Act of 2007 or CAPA - Directs the Environmental Protection Agency (EPA) to: (1) finalize regulations under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) that require facilities to establish and maintain evidence of financial responsibility for the risk associated with the production, transportation, treatment, storage, or disposal of hazardous substances; (2) publish proposed financial assurance rules for classes of facilities that present the highest risk associated with such substances; and (3) annually promulgate financial assurance rules for additional classes of facilities, giving highest priority to classes that may contain sites at which unreimbursed response costs are at least $12,000.

Requires facilities subject to financial assurance requirements to submit to the EPA: (1) a notification of filings for bankruptcy protection; (2) an estimate of environmental impacts resulting from their activities; and (3) a description of their corporate relationships. Requires the EPA to give priority to the development of requirements for facilities or industries whose prior actions indicate a high risk of default on environmental liabilities.

Directs the EPA to require that each affected person: (1) enter a financial assurance agreement that reflects the hazardous substances risk; and (2) provide financial assurances to cover potential response costs and damages. Sets forth factors for the EPA to consider in determining whether to accept financial assurances.

Requires the EPA to: (1) make full use of administrative offsets and liens on assets for enforcement purposes; and (2) issue guidance for enforcement of requirements for use of such offsets and liens.

Authorizes a trustee in bankruptcy proceedings to avoid any transfer of a debtor's interest in an asset made during the 10 years before the bankruptcy petition is filed, if: (1) the debtor had environmental liability under CERCLA; and (2) the debtor made such transfer with intent to hinder, delay, or defraud any person with respect to such liability.

Requires the EPA to report methods to strengthen the government's ability to secure assets needed to pay for response costs at sites contaminated with hazardous substances. Requires the National Bankruptcy Review Commission to evaluate the interaction between bankruptcy and CERCLA and to provide recommendations for action.

]]> Cleanup Assurance and Polluter Accountability Act of 2007 Official Title as Introduced A bill to amend title 11, United States Code, to ensure that liable entities meet environmental cleanup obligations, and for other purposes. Introduced in Senate IS Display Title Cleanup Assurance and Polluter Accountability Act of 2007 Short Titles as Introduced Cleanup Assurance and Polluter Accountability Act of 2007 Short Titles as Introduced CAPA Introduced in Senate 2007-01-31T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s452is/xml/BILLS-110s452is.xml 2007-01-31 Read twice and referred to the Committee on Environment and Public Works. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.