hazardous substance release; notice; liability
What changed between versions
Added new subsections exempting lenders who maintain ownership primarily for security interests, fiduciaries from personal liability, and state/local governments from emergency response costs.
Added notice requirements for property owners to inform prospective buyers and state officials about hazardous substance releases before property sale.
Added new definitions for fiduciary, indicia of ownership, prospective buyer, and qualifying property to clarify liability exemptions.
Modified liability criteria to include clearer standards for when property owners are responsible for hazardous substance releases on their land.
Added new subsections clarifying that nonmanagerial employees are not liable and establishing rules for implementing lender and fiduciary exemptions.