[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2718 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2718

 To amend the Comprehensive Environmental Response, Compensation, and 
  Liability Act of 1980 and the Solid Waste Disposal Act to limit the 
         liability under those Acts of lenders and fiduciaries.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 23, 1993

 Mr. Cox introduced the following bill; which was referred jointly to 
      the Committees on Energy and Commerce and Public Works and 
                             Transportation

_______________________________________________________________________

                                 A BILL


 
 To amend the Comprehensive Environmental Response, Compensation, and 
  Liability Act of 1980 and the Solid Waste Disposal Act to limit the 
         liability under those Acts of lenders and fiduciaries.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LIMITATION OF LIABILITY UNDER THE COMPREHENSIVE 
              ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT 
              OF 1980.

    (a) Exclusion From Definition of Owner and Operator.--Section 
101(20) of the Comprehensive Environmental Response, Compensation, and 
Liability Act of 1980 (42 U.S.C. 9601(20)) is amended--
            (1) by striking out the last sentence of subparagraph (A); 
        and
            (2) by adding at the end the following new subparagraphs:
                    ``(E)(i) The term `owner or operator' does not 
                include a person whose interest in a vessel or facility 
                arises in connection with a secured financing 
                arrangement or who acquires such interest as a result 
                of foreclosing upon a vessel or facility.
                    ``(ii) This subparagraph does not exempt from 
                liability any person described in clause (i) who 
                willfully, knowingly, or recklessly causes or 
                exacerbates a release or threatened release of a 
                hazardous substance, and such a person shall be liable 
                for response costs to the extent that the release or 
                threatened release is attributable to the person's 
                activities.
                    ``(F)(i) The term `owner or operator' does not 
                include--
                            ``(I) a fiduciary,
                            ``(II) a trustee, pursuant to an indenture 
                        agreement or similar financing agreement, for 
                        debt securities, certificates of interest, or 
                        participation in any such debt securities, or
                            ``(III) any successor to a fiduciary or 
                        trustee described in subclause (II),
                which acquires an interest in or control of a vessel or 
                facility for purposes of administering an estate or 
                trust. This subparagraph does not exempt a fiduciary or 
                trustee whose appointment is solely an attempt to evade 
                liability under this Act.
                    ``(ii) This subparagraph does not exempt from 
                liability a person described in clause (i) who 
                willfully, knowingly, or recklessly causes or 
                exacerbates a release or threatened release of a 
                hazardous substance, and such a person shall be liable 
                for response costs to the extent that the release or 
                threatened release is attributable to the person's 
                activities.
                    ``(iii) Nothing in this subparagraph shall prevent 
                claims against the assets that constitute the estate 
                held by the fiduciary or trustee or the filing of 
                actions against the fiduciary or trustee in its 
                representative capacity.''.
    (b) Section 107 Liability.--Section 107(a) of such Act is amended 
by adding at the end the following sentence: ``The liability 
established by subparagraphs (E)(ii) and (F)(ii) of section 101(20) 
shall be deemed to arise under this subsection.''.

SEC. 2. LIMITATION OF LIABILITY UNDER SOLID WASTE DISPOSAL ACT.

    The Solid Waste Disposal Act (42 U.S.C. 6901 et seq.) is amended--
            (1) by adding at the end of section 1004 the following 
        paragraph:
            ``(42) The terms `owner', `operator', `generator', and 
        `transporter' do not include a person who would not be an owner 
        or operator within the meaning of subparagraphs (E) and (F) of 
        section 101(20) of the Comprehensive Environmental Response, 
        Compensation, and Liability Act of 1980.''; and
            (2) by adding at the end of section 9003(h)(9) the 
        following sentence: ``This definition shall be construed to be 
        parallel and comparable to that specified in section 101(20)(E) 
        of the Comprehensive Environmental Response, Compensation, and 
        Liability Act of 1980.''.

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